@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

To be clear, a fund has multiple type of assets in various locations with various strategies.

If you are a DST investor with Crew Enterprises a.k.a Versity Investments a.k.a NB Capital with suspended monthly distributions please PM me. I am aware of the properties at Wolf Run in Reno NV, Inspire on 22nd in Aus...

If you buy good properties in good locations you can do fine in Buffalo. 

You're right, I definitely do not want to force a bad deal just to avoid a relatively small amount in taxes.This morning, I spoke with the property assessor’s office in the county where my property is located.

Location, location, location. 

@Hank Bank where are you located?

It's a 5th wheel located at a campground.

@Joe Gellenbeck Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

@Sang Kim- thanks for clarifying you are trying to get a commercial loan ...this is a  completely different product than a home loan ...You still should be able to  locate and obtain a good commercial loan  without  having to pay any fees upfront  ( other than possibly paying for the appraisal after the  loan has been  approved )