See if you can contact some of the more promising prospects and ask why they didn't rent.

(b)Borrower shall furnish to Lender:(1)(i) except as provided in clause (ii) below, within 45 days after the end of each fiscal quarter of Borrower, a statement of income and expenses for Borrower's operation of the Mortgaged Property on a year-to-date basis as of the end of each fiscal quarter, (ii) within 120 days after the end of each fiscal year of Borrower, (A) a statement of income and expenses for Borrower's operation of the Mortgaged Property for such fiscal year, (B) a statement of changes in financial position of Borrower relating to the Mortgaged Property for such fiscal year, and (C) when requested by Lender, a balance sheet showing all assets and liabilities of Borrower relating to the Mortgaged Property as of the end of such fiscal year; and (iii) any of the foregoing at any other time upon Lender’s request;(2)(i) except as provided in clause (ii) below, within 45 days after the end of each fiscal quarter of Borrower, and (ii) within 120 days after the end of each fiscal year of Borrower, and at any other time upon Lender's request, a rent schedule for the Mortgaged Property showing the name of each tenant, and for each tenant, the space occupied, the lease expiration date, the rent payable for the current month, the date through which rent has been paid, and any related information requested by Lender;(3)within 120 days after the end of each fiscal year of Borrower, and at any other time upon Lender's request, an accounting of all security deposits held pursuant to all Leases, including the name of the institution (if any) and the names and identification numbers of the accounts (if any) in which such security deposits are held and the name of the person to contact at such financial institution, along with any authority or release necessary for Lender to access information regarding such accounts;(4)within 120 days after the end of each fiscal year of Borrower, and at any other time upon Lender's request, a statement that identifies all owners of any interest in Borrower and the interest held by each, if Borrower is a corporation, all officers and directors of Borrower, and if Borrower is a limited liability company, all managers who are not members;(5)upon Lender's request, a monthly property management report for the Mortgaged Property, showing the number of inquiries made and rental applications received from tenants or prospective tenants and deposits received from tenants and any other information requested by Lender;(6)upon Lender's request, a balance sheet, a statement of income and expenses for Borrower and a statement of changes in financial position of Borrower for Borrower's most recent fiscal year; and(7)if required by Lender, within 30 days of the end of each calendar month, a monthly statement of income and expenses for such calendar month on a year-to-date basis for Borrower's operation of the Mortgaged Property.

JamesHere’s some info I’ve posted before that may help in your search:Here are some things to look for from an Insurance prospective: Any in-ground tanks (active or inactive)Any Knob & Tube or Aluminum WiringIf built before 1978, does the building have Lead Safe certificationsAny wood stoves or secondary heating units.

@Clayton Mercer Most people who charge an application fee supply a list of criteria for prospective tenants so tenants can go through the list and disqualify themselves before paying the application fee and being denied.

What I am trying to determent is the value of the  property.

So the seller is basically locked into that price, or going to have to go Cash/Conventional only for the next buyer, anyway.In a hot market, a seller can avoid all of that and go Cash/Conventional and not lose too many prospective buyers. 

Until the area becomes more appealing to an outside source of prospective tenants, you're choosing from the already resident pool, which is on the lower end (income, education, criminal history, lifestyle, etc.)

Between that and the normal electricity costs in summer (mostly from running the air conditioning) it can result in a very high electric bill.Repair - resurfacing the pool deck, the inside of the pool itself, and also system repairs can become quite costly.I understand that the tenant will be required to pay for some of the monthly costs (such as the electric bill), but keep in mind that it could deter some tenants. 

If they are not aligned then simply keep looking till you find one that is.I would look up NARPM and start with them..Below are some questions I would think would be a good starting point for you to see who really treats their company like a business or a hobby.My business partner is a regional VP for NARPM and I am happy to help if you need anything please reach outQuestions to Ask prospective management companies* What are your average days on market for vacant homes?

The area between State St. and S Keystone Ave. on Prospect has potential but I wouldn't dare buy east of that.