The 7.5% was the cap when I purchased, and renovations increased the NOI and brought the cap up a couple points.

This may not be obscure knowledge, but it blew my mind when a kitchen retailer gave me this tip yesterday: When rehabbing a kitchen, don't replace the cabinet boxes unless they are in bad shape (or you're using a natural wood finish that you won't be able to color match).

Now debt is in 5's so minimum they want a 6.0 cap if stabilized with top rents and now value left except regular rental increases.

But I don’t know if they’ll justify increased rents.

As for the deal, the seller increases the sale amount for each year I don’t buy.

-Increase my marketing and leads/deals.

i want to go with a lighter color. 

After the first year, the lease amount in the agreement increases $50.  

However, this summer I noticed the water bill increased by 50%. 

@Bruce Bloom Kinda hard to cash flow on preconstruction properties unless you sell your interest (to capitalize on an increase in price) or prefer to have your capital tied long-term (hoping that the developer finishes the project).