I think the observations you've gathered in your research are valid.

End of the day without the benefit of hindsight investing is about process and odds and in my opinion its not the right thought process  and pure odds (meaning if you had enough observations and did it all over the place) would lead to bad outcomes. 

Your observation that you are seeing more of them available is definitely an indication that they are less desirable.  

I'm really encouraged to see some buyer optimism here in Houston.I have a question on an observation of the graphs in the HAR report: In following the seasonal trend over the last few years, home prices appear to trend down in November(s), bump up in December(s), then trend back down to its trough in Jan/Feb(s).  

What is great about Pueblo gets hidden to the casual observer.

I observed the same high rates at Winterpark Colorado some time ago.In the Florida Panhandle they can be nego with 1 to 2 year teaser rates.

The difference between an observer and a true investor is the actions they take towards their goals.

Gross rents at 100% occupancy would be $595,200.Loss to current vacancy = ($47,616)Operating Expenses (estimating as I don't have all the details) $275,000NOI = 272,585 (Cash flow after debt service is only $80 per door, not bad, but not excellent either)Other observations: $475 rent for a 2/1 with 900 sq. ft usually means it is a bad neighborhood (and probably a class D apartment) $2.4M for 100 doors = $24,000 per door and for a class D apartment, that is too much.Please keep in mind I have limited info to go off, so my post is only based on what little info was provided.Who pays for the utilities?

Great observation.

Walked away without buying but observed and listened to learn more about what to expect at those.