@Mike Dymski  UGH I saw this play a few times.. over the decadesHey we will buy it because in 2 to 3 years this will happen.now I think everyone knows that I am an appreciation guy... but that mind set is really gambling in my mind.. maybe not quite as bad with these low dollar rents.. but I have seen guys already in our market get stressed thinking 1800 rents and the build cost to either build new or reposition rents need to go to 2200 and that did not happen.. thereby caused stress to the partnership and in a few instance lenders getting tough as the loans are not meeting DCR's..  

@Eric Gamble We were beat to the deal.

Don't make the mistake of thinking you can reduce it to a bunch of formulas, some sort of gambling system.

Happy long-term tenants are worth their weight in gold, so making that move before the impact of this new company is truly known is a bit of a gamble. 

Its super walkable, safe, architecturallly beautiful, there's great food, constant source of tenants due to the universities...I am not familiar enough with the other neighborhoods of Providence to take a gamble there yet, but am interested in studying Cranston.

Our agent is saying that there is pretty much no data to estimate what the appraisal will come in at, so it is completely gambling without this contingency in.

No it doesn't make those choices correct when gambling.

Exactly right,Appreciation=Gambling  To be honest no one has a crystal ball and knows exactly what the market is going to do in the future.

Ours is a FVIR type water heater with enclosed ignition chamber.

i console myself by reminder that at least its toward investment as opposed to gambling or drinking etc, mehhh