Anyway when the tenant moved out one dark and stormy night it ended up costing me a bundle!

Sometimes it’s underlying dark forces that keep good ideas from moving forward - I’m pondering the hotel industry reference - and often it’s just lethargy, lack of vision and flagging political with. 

Bottom line you ran into a fake lender who is just stringing you along to see how much money he or she can get out of you and then go dark.. move on .. find a real lender.. and I will bet the terms were great too right?.

That's the immediate variable I see coming for the market but the rest I'm in the dark about as far as trying to predict market conditions in the coming years.

Especially with most units requiring 3 different paints/colors: walls, ceiling and base/trim/doors.

I didn't do a great job of explaining the situation in my original post but added some color in a follow up post. 

@Jody Schnurrenberger Definitely no regrets...yet ;)I wish I could shine a little more light on it for you but, without knowing what else the seller has going on, I'm afraid we're both stuck in the dark.

The Fair Housing Act is what applies to privately owned property (with the exceptions Bruce listed above) and it forbids discrimination against prospective tenants because of their disability as well as race, religion, sex (including gender identity and sexual orientation), skin color, familial status, and national origin. 

gunstock is the all time tip,selling color, so somewhere there...but a little gray and a little distressed should be fine and would look great.

Sure, if you are a super experienced investor or work at a fund, you'll have a good idea of your WACC and will use that as your discount rate, but for us mere mortals picking a discount rate seems like a shot in the dark.