The other 3 charge around $700 a week for a nice room with 2 beds and access to a pool, weight room, and free breakfast.So I charge $400 for 2 bedroom places that are as nice as the $700 a week motel, but people can cook, do their laundry, have their wife visit, shoot a bow & arrow in the back yard, process a deer in the garage, work on their vehicle, etc. 

I'm living in a house who's foundation has lasted 165 years with basically no upkeep.

Also, he wants to know I have all the financing in place before he'll check on the current upkeep of the property (i.e. roof, hot water heater, etc.).

My wife is a perfectionist and gets mired in the details, treating every piece of information with equal weight. 

This process of reconciliation can be weighted anyway the appraiser subjectively determines is most accurate. 50/50 20/30/50 80/20 whatever...Hope this helps.

If you were trying to lose weight, would you eat a whole chocolate cake in one sitting??

It is fantastic that you have saved up 5-6,000 but that is basically just enough money for reserves when a problem comes up. Keep

The units are really new so I don't see any replacement costs besides the normal wear on the property and upkeep (paint every 3-5 years and caulking).

If you are looking for performing assets in these areas, you should be looking in the 30-50k range per unit depending on level of finish and upkeep.  

I would want an 8 cap min for a solid investment given the building is old and more expensive to upkeep, but it is likely the prices will not be that competitive in that neighborhood.