I was hoping city would force tenant out, but that does not seem to be the case until bulldozer arrives.

If ever questioned, you will need to explain how you arrived at a reasonable salary; simply saying 50/50 won't do.

For example, one homework we were told to do the first day was to check our credit score out once we arrive at home that night.

I was assured that my rent check would arrive between the 20th and the 25th of that month (Rent is due on the 1st, they pay vendors on the 12th, rent checks are mailed around the 20th). 

@John Woodrich@Marco Petit@Jenny Moore

You have not included any ongoing expenses associated with a rental business/property which is how you arrived at 600 positive instead of 600 negative cash flow. 

There are other sub-categories, including Application for Informal Probate, Application for Formal Probate, Petition for Formal Probate, Petition for Trust.

He would buy an option on a lot for development then petition the city for a stoplight and then resell the lot for higher valuation.  

So my question is -- what's the typical approach for arriving at a possible purchase value -- as it relates specifically to capturing the NOI in time, especially if it seems to be changing somewhat rapidly?

There are a lot of scary similarities in the market right now as in 05, 06, but agree that the shortage of affordable housing (builders are just now starting to build them, way after the fact) and labor shortage (kids uninterested in the trades) will delay the arrival of a correction (agree it will come eventually).Plus the employment base in Phoenix is much more diverse now than 10-15 years ago (construction & financial) to a lot of technology and corporate support services recently added.