Employment has neared an all-time high of about 120,000 jobs The College Station-Bryan Business-Cycle Index, released monthly by Texas A&M University's Private Enterprise Research Center (PERC), attempts to reflect the current state of the economy.

If so, we can just look at Dallas as a whole, and start our search in the counties/ZIPs that look most promising)These are the maps we created:FloridaMissouriGeorgiaMarylandNorth CarolinaVirginiaPennsylvaniaNew YorkColoradoTexasAfter looking at these maps, and reflecting on where we would want to live, we narrowed it down to the following 5 (in order of personal preference):Denver ColoradoThe San Antonio -> Austin TX CorridorThe Washington, DC to Richmond VA CorridorSouthern MarylandRaleigh-Durham, NCNext StepsWe are still discussing what our next logical step is...but we are fairly certain the next immediate step is doing a more qualitative analysis of the areas: reading business journals, reading local newspapers, investigating school and community development initiatives, investigating school quality, etc.With that qualitative analysis, we will likely eliminate another 1-3 cities, then plan to build our team and network with local investors After that, we will build our team in those cities and plan a visit to build relationships and vet properties.I hope that revealing part of our process helps at least one person, even if it's just learning something about your market from the HUGE CSV FILE I posted.Do you agree with this process?

Consequently, a number of properties in our building were sold in that manner, each with an inflated price reflecting these additional amounts.

I'd consider them... if they met our credit score requirements, their full credit report reflected that they had changed their ways, and the references checked out. 

So are price adjustments also very common in the industry in this situation when the offering memorandum does not reflect the real cash flow?

REP status is not reported on a designated form yet reflected on your personal return and related schedules.

I've noticed some owners have abandoned their props & county databases do not reflect their new addresses.

It reflects that my market has depreciated since May, that the fed has indicated further rate hikes are coming, that the last 10 years has incredible appreciation that cannot continue indefinitely, and that I desire my pro forma to be conservative. 

My comments reflect that the investment you propose to either syndicate or interest an investment partner can not offer these investors a return competitive with other opportunities in the market, for the same level of risk.  

However, if you really believe you can do maintenance/cap ex at $45/month (you would be wrong) and you believe your underwriting, it is on the edge of being an OK buy n hold, but I would still pass as buy n hold because that price point reflects a poor historical appreciation.