Population growth, job opportunities, current business that are in the town and then businesses that aren't in the town but are in towns that have similar demographics and populations that also do well that could be potential places that would lease commercial spots if someone were to develop it.

I've had success, and have also been burned on properties that reach this so-called 2% thing - which really is not a rule (the 1% rule isn't a "rule"), it's just one of many metrics used to evaluate an opportunity and the performance of an investment.  

We have indentified management as a huge opportunity and a reason for its lower than market-rate valuation.

I can't see any benefit in giving up that opportunity in order to net a 1-2% return. 

@Justin Wragg the numbers sounds appealing as any investor would jump on this opportunity I would re run the ARV/COMPS again and speak with some agents to ensure your on track.

Any income property that is owned free and clear is losing money based on the opportunity value of the equity.

WI is a hot plate of rental properties right now much opportunity I hope you take massive action 

Sounds like more trouble than its worth, and there are better opportunities out there.

Is it fairly rare yeah will it creep up in value over the years yeah but the reality is the real estate market offers a much more lucrative opportunity.

I have had the opportunity I just don’t feel compelled to drive two hrs when they can send properties via email.