This is a recipe for disaster; anyone who claims he can accurately predict appreciation is lying to you.

I don't like gambling, I only like to make bets I can win.

I have found that $35 per unit per month is accurate for water and sewer combined.

If your rent numbers are accurate, the units are quite a bit under market which is a nice value play if the building is in decent shape.It's also good news that the tenants are on month to month leases.  

Oh, one last thing: there's a tribal gaming casino planned to be built in the southmost-central portion of the city which people take as a great benefit or the end of the world, depending on how you feel about gambling and/or money. :)

@David D'Ambrosio I enjoy following @Brian Burke on a thread as he is so eloquent and accurate in his answers.  

She is in good standing with accurate reported income.

Perhaps a more accurate response from the listing agents would be "we've already turned down better offers".  

.), review your credit profile, and determine an accurate DTI ratio, and is confident that you are an eligible buyer.

This downturn is EXACTLY why the 50% Rule is accurate.