Hard to say, but I would definitely compare last year return to this one and examine the difference.

Their perception of low- and high-risk markets is oftentimes exactly the opposite of what a careful examination of the facts would indicate.

Additional followup: Who all is examining refinancing eligible assets?

The degree of upside and delta is entirely up to you but examine in detail the things I mentioned above for a start.

SETTLEMENT COSTS: Buyer agrees to pay all settlement costs and charges including, but not limited to, all Lender's fees in connection herewith, including title examination and title insurance fees, loan insurance premiums, all document preparation and recording fees, notary fees, survey fees where required, and all recording charges, except those incident to clearing existing encumbrances or title defects, except if Buyer is a Veteran obtaining VA financing, those prohibited to be paid by a Veteran obtaining VA financing,which prohibited charges shall be paid by Seller.

You can calculate it for any property you examine if you want.

I recently finished my licensing exam in Michigan.

I would definitely examine the lease.

Let's examine the data.  

Unless you have a lot of experience in searching and examining title is tough to be sure you have identified all the documents that may affect title and being sure what effect they may have.