The real way to answer this question is to do a detailed break down of the numbers. 

For every ONE PERCENT that cap rates move against BAM they have to improve NOI by $6,000,000 just to BREAK EVEN on the property value.

I'm currently in college, but will be home for winter break.

Most lenders break scores in 20 point buckets so a 720 score would get a better rate than 700-719.

Would switching to targeting refinery workers endanger your ability to attact students in the future (a break in the word of mouth advertising, for instance).

@Joe Villeneuve Jeez - give it a break.

Let me break it down based on your scenario and the updated market landscape.Replacement Property and MortgageYou're correct that your replacement property must be equal to or greater than the value of the property sold ($440k in this case) to fully defer taxes.

 $3.00 per hour.So you can build low cost housing even if you use higher labor rate.Kids on Xmas break working to build the house for their grandfather.

I ran the numbers on the deal knowing that I would break even on cash flow in the first year with minimal rent increases but significant cash flow in year 6 when the 401k loan is paid off.

For the personal side of things, I do a GoBundance Onesheet, which breaks my life up into Financial, Health, Relationships, Friends, Adventure, and Spiritual/Contribution.Happy to share either document with you if that would help Tonio!