Consider the alternative - if you walk in and say 'I'd like to use this zoned commercial building for a store and do some mild alterations' and they say 'I perceive no possible issues with that whatsoever' - couldn't you come back around and blame them later?

These rankings are the perception of the locals and have no bearing on the job growth/short term workers who are there short term and what they perceive. 

People "learn" what suits their believes - they will selectivley "learn" what supports their perceived truth.

If your offer is really something that would be in their best interest or meet their actual needs (vs what you are perceiving is their needs) I am going to look at it with an open mind with an end goal of reaching their objectives.

The perceived protection of the LLC isn't up to the level of protection most people believe it is?

If you have a lender willing to give you 85% of cost to purchase and rehab the property at 11% or less at 2.5pts: take it and run.Hard money is a bit softer than what is perceived.

To clarify a little though, I'm wondering what expenses (perceived and/or real) the appraiser will use on the liability side of things to arrive at net operating income. 

I do not own any properties in NJ, but I became morbidly curious from your posts citing NJ state laws which I perceived to be nonsensical, so was seeking clarity.In an earlier post you claim an apartment building owner was sued for recording two deaf people signing.  

Taking cash from it right before closing and the start of a 1031 exchange can be perceived by the IRS as a way to take untaxed profit from the 1031. 

The foregoing would indicate that petitioner did not perceive the property as rental property, but as investment property shortly to be sold to Economopoulos.”In short – if she’d have had more activity, the single rental could have been viewed as a trade or business.