Regardless of any rule you use to evaluate a property, make note that NO rule is a silver bullet in that it is good for each and every property.

Bullet Point Recap: - The hands on guys that buy and hold will always make more cash flow, but do a lot more work

Does bullet proof vest mean anything to you!

@Michael NguyenFor the most part apartments "multi family" have higher cap rates vs Office Buildings.Commercial leases are more bullet proof in court vs residential leases..Commercial leases are like guaranteed leases..

The second to last bullet on the above is why no one should ever get excited about FHA on a 3-4 unit property until it's 100% fully closed and you have your keys in-hand.

Some useful resources I have come across thus far:Cromford Report - Phoenix area (overall real estate market, specific for PHX area)bls.gov (economic information in general)http://www.city-data.com/ (more economic/general information)www.trulia.com (crime, schools, etc.)Are there paid sites/reports that can be found to compare overall markets bullet by bullet for a period of time and over time?

.- Refinance costs - I'd have to refi in 5 years and who knows where rates will be- Refinance risk - related to the bullet above, but there is risk around not being able to refi at all due to economic conditions in the future- I can get the commercial loan in my LLC name. 

@Jim CummingsNormally I would not agree with this kind of advise but I think you are probably right on saying just bIte the bullet do the repair and replace the carpet . 17 years means something .

Every other post is people asking for mentors and the “silver bullet”.

Bullet points because it is late where I am.1. get a mentor2. get a written plan of what you want/need to make and when (passive/active income)3. asses your resources4. get your RE license5. get a mentor (bears repeating)so much to go into but would need more data to advise