I would rather be consistently profitable with solid performers in my portfolio than shooting for that home run. 

I find most of the owners that are selling operating properties are doing so because they're not performing well.

I’ll explore all three, and discuss the differences of each and how they apply when exploring real estate investments.CoC [Cash-on-Cash]Cash-on-Cash Return is the simplest way to evaluate the performance of a real estate investment.

@Chad Dunham the last thing you want to do is buy a multi $100k asset that performs poorly because you didn't want to be a bother to someone, speak up at least to the broker and say it isn't clicking with the agent, they can try to find you another agent, let you go, or be a massive pain (which is unlikely because their business runs on referrals and reputation).

The third thing that comes to mind for me is that you could buy all cash and refinance out once the properties are performing for a bit. 

The lender will perform a desktop appraisal but they will typically have a short view on the value of the property to protect the company’s investment which means you will be coming out of pocket more.

Cap rate, however, is commonly used as measure of value/risk.IMO, cap rate does NOT belong here (when talking about performance measure).

Plenty of people do those kinds of numbers as well (and the absolute most crucial part is to make the bid based on market value and also based on knowing your walk away price) - but once you've figured out market value, tweaking the number so that you bump upward from a 5 or 0-ending number, as long as that's still OK with what makes sense financially, might help boost you past a few others. 

We would prefer not to pay for a whole new system if possible.I assume that we can't get a refund for the ****** work they already performed or ask they to pay for the unit they ruined.Thank you,[url=[/img][/url][url=[/img][/url][url=[/img][/url][url=[/img][/url]

Maybe profit from the sell and invest in performing cash-flowing assets.