An example: Springs at Apple Valley, https://www.springsapartments.com/apartments/mn/ap...Less focused on the location, and more the concept below. 

With the influx of talent to come and work for major companies like Oracle, Apple, IBM, Samsung and more, development is still growing, yet at a slower pace due to higher costs. 

Let’s say average rent in Boston is $3,000 and it’s $1,000 in Tampa... your 6% in Boston is $180 and it’s $100 in Tampa.Same amount of work for $80 lessHopefully that helps illustrate that it isn’t apples to apples to compare based on percentages only.By the way we are seeing 8+caps here routinely.

We contract with large scale facility groups that service multiple of the markets we cover and who handle maintenance for large companies such as Nasa or Apple and large residential portfolios such as ours.

Not to far but far enough to forget about the land.I was walking the neighborhood when I came across the vacant piece of land and jotted it down on my Iphone.

Below is a photo from 6/18/2016:Below is a rendering of what it will look like...please excuse the IPhone pic

@Ryan Parnow - It is Pergo Max Montgomery Apple laminate flooring.

I think that can work IF you manually double check the comparable sales that come up, to make sure you really are comparing "apples to apples" (similar beds & baths, similar sq footage, same style of house, same neighborhood, sold within the last 6 months, etc.)I think that works for him because he's done his own comps for years (using MLS), but for a beginner I would say some caution is warranted - don't just take the "Zestimate" at face value and go from there.

Comparing a building to individual condos is like comparing apples to apricots.

However when I want to listen to biggerpockets podcast I have to get on my iphone.