Me and this colleague of mine have identical EA credentials... 

Funny how peoples identity is tied up in these things.  

House on my street sold in May for $2.6M, nearly identical one just closed for $2M and had seller concessions (seller paid for new roof, bunch of nickel and dime stuff).

Units are affordable less than ground up builds but rents are almost identical in most cases.The timeframe to have a company come out and install a TH, Modular or MH is usually 60-90 days.

In the past I have seen a high water bill one month and then the very next month with the same equipment back to a normal rating/ reading.

For example, large trucking companies such as TMC buy all new equipment, but resell their inventory when they reach a certain milage (i.e. 500 K to 800 K).

This listing is one of four studios at the same property so I have the luxury of A/B testing Each unit is identical and each listing is almost the same except for reviews (this listing was my "medium" review listing at the property) I increased the ADR to reflect the cost of cleaning so we'll see what happens! 

The fact that you think it's going to stay flat and are concerned about even a 5% correction shows that you are not equipped for what's to come.

In 2008 I sold a property then in 2013 sold the identical property next door. 

Even if the homes were identical at the outset, one has experienced wear and tear and the other hasn't.This would still be the case if the home "appreciated" in real terms due to increased demand for real estate in that area.