As an older person who has lived through many economic ups and downs, including very high inflation and interest rates during the President Carter days, experience and history suggests a big correction - possibly larger that the most recent one.Did you see the HBO documentary "Too Big To Fail"?

,In my opinion, and based upon almost 50 years of experience, comps are completely unreliable when used to estimate investment value or the property.To learn the history of the property and confirm your suspicions, visit the county government offices, such as the planning department.It is not recommended to assume anything when investing.

. :)I think it's just like any other time in the history of money.

It's like a mortgage note that hasn't been seasoned with a payment history yet.

These areas used to be choice locations back in the day and if history repeats..well you know.

I might also include a payment history to lay out when they pay their rent and what it has cost them to be late. 

Lenders usually want to see a history of 2 years rental history before they can use that to count towards your income. 

Bed Bugs are a major problem and if your apartment complex is of any size I would be suprised if they didn't have a history of bed bug incidents.

That way you can look through it and figure out the building's history.  

My day job is in history, and I have an interest in economics, so I will take a small crack at your question.I'm in Washington, DC so in the city and the surrounding counties (PG Co. in MD and east of the river DC maybe exceptions) for the most part we did very well.