My example is taking a vacant unit and finding similar rent rates that are filled close by.Do not go by asking but what units are filling up and renting for.Just like a house with a for sale price landlords can ask for any amount of rent but doesn't mean they will get it.If the building you want to buy is occupied you can count the rent if the financials show for a sustained period of time 6 months or longer.Even then make sure the rent stated isn't overinflated and the landlord gave half off first months rent,waiver of security deposit etc.

The trick is, if you're new to inner city investing, is to wait for (are help) the community get the necessary features in place to sustain revitalization.

@Just Don:I am a firm believer in sustainability, so my opinion would be to refinish the pine floors.

I believe that those markets that have experienced the most significant bust and continue to sustain increases in population will have a greater chance of experiencing above average appreciation.

I have developers in my city building affordable housing that costs $300-400k per unit and it is considered a great thing because the buildings are "green" and "sustainable".

Can you sustain it financially?  

When markets crash, it really only matters that they've crashed and not so much why they've crashed.I've built an ark of sustainable wealth rather than attempting to try to predict when the rain might arrive and how I might dodge the rain drops once the rain starts.

If I'm going to continue flipping, I need to make some changes to make it more sustainable.  

What I'm looking to accomplish is create something that I can get sustainable deal flow through.

Dev Horn, I plan on a sustained long term effort.