If not, please indicate any errors you see. 

I Do not understand why tax professionals refuse to provide the depreciation schedule. perhaps they do it so when the next tax proffessional inevitabably request this information from the previous, this will be a key indicator they are not a client anymore.

This probably should have minimally been a yellow flag and an indicator that the group may not have been buying at attractive cap rates.7.

My brother has indicated on multiple occasions an interest in us buying rental properties together - he would be financial equity, I would be sweat equity.

In these cases, looking at recent sales of similar properties in the same neighborhood is a better indicator of value.

As for researching for different markets, what’s a good indicator that new stores will be opening up? 

You don't indicate this is for the purpose of selling the property so,First, I wouldn't advise doing so.

@Melissa Nash - Yes, there are multiple reasons that I'm getting into Real Estate but with the updated picture of the ADR for the past year, the cash flow was not as good as they were indicating initially.

I meant to indicate I wasn't looking for other's rates on fannie/freddie secondary type products. 

That was one of the attractive points for me, since several other deals I joined in the last few years have had capital calls due to increased debt costs.One concern I have is that, while they claim vacancy at the property is 7%, I see quite a few listings on apartments.com for the complex that indicate a higher number.