If you take a shovel and dig down at the end of the field , does water rise in the hole  ?  

ONLY reason I would change cabinets is if they are broken and non functioning and non repairableAnd yes if the sink is bad and unble to just clean up,,,replace with a white cast iron and a quality modern high rise brushed nickel single handle on the side type. 

I live in a pretty good neighborhood in the Bronx, where values have been on the rise.

The rental returns might not meet the mid-west numbers but the appreciation is pretty good and Charleston's future looks bright by any measure (except maybe the rising ocean measure)  :-0

Rents need to rise in Lakewood to offset some of the challenges the market presents, which has not happened as much as we'd like thus far.

Did they try adjusting the temperature?

Be careful to take their temperature regarding doing deals.

{SFRs, MFUs, Townhouses, Apts, High rises}Starting from the client/customer/tenant, gives me insight as to the obvious things NOT to do, eg invest in class A gated communities when the tenant may be a blue collar worker, has a family with kids and needs easy access to shopping, schools and in Calif, access to freeways/hiways.Of course Location and the deal get into the equation, but avoiding 'swamp land and war zones' is fundamental and a pre-requisite to either, at least for me.

The other is a new business we're launching that will ultimately result in the purchase of 5+ units in SF and other cities currently dealing with rising rents and significant tenant displacement.

Thus increasing the Cap Rate to compensate for the higher risk.Similarly, if a neighborhood improves, the price of the property rises even if the NOI does not increase very much.