Although consumer recognition has historically been lacking, it is encouraging to see that they are finally making good progress in this area.Thanks for feedback Calvin, your points are valid.  

Hey Marcus, I just replied to your email a bit ago with some reasons why Detroit agents are generally terrible :-)Outside of that is the challenge that there's just not much inventory out there (historically speaking). 

For instance Cleveland Heights & Shaker Heights are historically around 4% and above while Cleveland proper is usually 2.78% or so.   

I agree with you, though, that it's historically more of a retirement aged community.  

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Use something like ATTOM API to get historical sales snapshots, or just all the historical sales of the property class for a metropolitan area. 2.

I originally posted this a year ago and I am happy to share the results in a comment on this post, but before I sway anyone's opinion I would love to hear your thoughts...So with that said, historically the industry accepted standard for underwriting a projected exit cap rate is the market stabilized cap rate plus a 10 bps for every year held.

When reviewing income, a good landlord will consider how long the individual has had the job or how consistent the income has been historically.