@Alan Crookham you may need to expand your search of comparable sales and make sure you are comparing apples to apples.

FYI places like Barnes, etc usually will have exposed metals, in my experience, not that bad.  

I found a list of basic questions and added on some here and there so I can compare apples to apples for the banks. 

I prefer leasing, as it costs about 2/3 of the payment of purchasing the same car (always get monthly numbers based on ZERO down so you're comparing apples to apples), most people don't keep a car longer than 6 years (I know I don't, and you break even/come out ahead of leasing at about the 8 year mark if you purchase), and I love the fact that you never pay repair costs or have reliability concerns. 

I will walk and miss a deal rather than grab that tempting apple.

If we base the purchase price on total income it would be twice as high.The true beauty of buying apartments is that the income after paying expenses determines value.It’s all about the numbers.Took me a few tries to get to this point...you laid it out perfectly in this post...the hard part is finding cap rate comps since all the recently sold properties do not have T12s and rent roll information that you can use to compare apples to apples....any suggestions on how to estimate appropriate cap rates?

Originally posted by @Nathan Yarnell:@James Barnes Thanks for the input!

I know that Evangel is a Christian U. but I have seen bad apples there as everywhere else.3.  

Make sure you get a formal term sheet to compare apples to apples, don't accept soft quotes. 5.

The area is growing rapidly with new companies announcing development here like Apple, Amazon and Google.