But he may be right as well. you should have gotten multiple bids before you started the project. that would have addressed your concerns regarding overpaying.

But that's for another blog.Thus it's important to run numbers conservatively with built in saftey for when the people move into the brand new A-class buildings increasing our "old" asetts' vacancy for a while only to pick up all the A-class peeps again, once they realize they can't afford those rents anymore, which will in turn have an effect on all rents. 

It is a great place to really network and find folks you need for your team - professionals and jv partners - I want to address the last bit as I work for a loan brokering company.

What has been your most effective list criteria for direct mail? 

What that effectively means is that a NEGATIVE INCOME (read LOSS) on SCH C occurs every year -- A KNOWN RED FLAG.

There are a number of ways to justify your claim, but one of the most effective I've found is to look up similar build and size houses near your property and then look up their tax assessment's on the county website. 

The net effect on pushing any values north or creating a future crisis of any sorts is likely nil IMO unless they change the down %.

It could have a lot of deferred maintenance and is cosmetically outdated which can have an effect on how easy it is to rent.

Also, none of the prices or descriptions (addresses) show up in market place ads.

For those willing to learn the rules and design an effective strategy within those boundaries, however, they can be very, very powerful wealth building tools.