On this particular report I did factor that in, though I'm sure it's not the exact number.

We have bought tenanted properties and always strive to save a tenancy, rather than force a move.You've identified a key factor about low-income tenants.

Is there a situation where commercial properties may cashflow well and appreciate due to other factors?

....There are many factors that play into this obviously such as pay increases at my job, getting married etc. 

@Lucas Miller its not total to blame but its main factor, if the cost of the investment raises then something have to change. unless the investment become a better grade asset. like a market that is maturing and becoming Premium market like DFW for example, the base line of return is lower and will stay lower moving forward. 

I’ve heard not to factor much for mobile homes in purchase price but clearly he has figured up his price based on the total rent he is receiving.

Is it an important enough factor to impact it getting rented out and future potential for appreciation?

Zoning, what utilities are in place or are available, easements, views,  and what a buyer would intend to use the property for are all important factors. 

Unfortunately, there is no shock factor for me on this one. 

Probable if you have more than 4-5 people at most and lots of "silent" partners if would be much safer to formally syndicate.If those two factors are in line might make sense to draw the line at a certain purchase price, Unit count or expected NOI.