Also, what are the main differences between using the Cost Segregation method versus other forms of depreciation?

Matt,I am an investor myself and a commercial broker who owns my company.I DO NOT do property management.I can tell you first hand you will truly underestimate the amount of work involved to do property management CORRECTLY.Many brokers/agents see the small fee as an income stream but underestimate the cost of time spent versus the money earned.This is why I believe people that do property management have to enjoy and have that personality.The older vintage age of the property the more calls you will have and issues that come up.Also if it is a C to D area the issues will increase.Why don't you go work for a commercial brokerage??

That said, it'd be interesting to see a comparison between what a local bank would offer you versus say a Fannie Mae multifamily program.

I see some go it's just over the other street close by is a comp for ARV of 90k and base buying off of that.In these Urban cities it can go street by street and block by block between a great area,ok area,and a war zone.In a suburban to rural area many times the the property values are the same for the unit mix and the safety of the area is the same.Some people buy trash with cash but I don't like it.Too many things can go wrong.I like to stay patient and look for great deals in good areas.The number of beat up houses on the street is critical.What does the crime report show for that street versus violent and non-violent crimes?

You will use a laser to market versus the methods described.

It is funny, now we do everything we can to keep our "best" deals as rentals versus selling them for a profit today.I have found the same thing as J Scott.

Most SFR properties don't look at NOI but more of the comparable sales approach versus the income approach for acquisition with appraisals and lending.

For example, a condo unit versus a condo complex.

Alyn I would look at the annual rent growth trend for the unit mix of your apartments for the location.As I said earlier if supply is low and demand is high you can increase the rents by a bunch and accelerate the CAP.If you are real busy with your job and want turn key then yes you will usually get a smaller CAP for that luxury.As you said for your goals the bigger return isn't as important.At the end of the day it's your life and your investment and money so it's your call.I have some investors that want an 8 cap,some a 12 cap,and some a 16 cap going in.I tell them fine if you want a property needing major work in a war zone.There is nothing in my area in a good location trading at more than a 10 cap period that is in good shape.The reason is other new investors are giddy with a 10% return versus a treasury or CD giving them 1 to 2 % if they are lucky or their stocks are tanking hard.It's just all relative to your investing style as to what will make sense.

Price drops mean nothing as the property was likely initially listed at what was owed + closing costs versus what it is actually worth.As for what banks will accept, I think it depends on the bank.