And with custom construction, you can maximize your building for solar energy and passive heating/cooling/lighting, plus any other features that apply to your situation.  

Value it based on the prevailing cap rates in the area.

On a rental property you have other options.If the spawling is in the beginning stages (only cosmetic) - wrap the the chimney in coated aluminum, make sure it is water tight on the top, install a chminey cap with vermin guard.

That's a nice "feature", and transfers more risk to the lender.

California has a 12% cap on income taxes, but has a great property tax situation with prop 13. 

One in Memphis the other in Oklahoma city.The memphis was C trending to D... they lost 500k and felt they were lucky numerous managers all of them stealing from them.. flying there once a month.. crime through the roof etc etcThe other bought a 330 unit in Oklahoma city.. she sold her prime 75 unit in ORegon that was a 6 cap to get this great 8 to 10 cap... well it almost broke her... theiving managers collusion with contractors..

Technically, the word realtor should be in all-caps and include the registered service mark -- like this: REALTOR®.

If I bought the property outright I would be asking about Cap Rate.  

This is one of my favorite features of Bigger Pockets especially for asking specific questions.

I'm an HVAC contractor so I can handle all Cap expenditures for minimal cost, including roof, remodels, etc.