@Phillip Costa - a few links to consider:https://www.philaworks.org/data-trends/ - Philadelphia's workforce development boardhttps://www.phila2035.org/citywide-vision - Philadelphia's vision for the future (not set in stone just what they're working towards)https://www.bls.gov/regions/mid-atlantic/news-release/areaemployment_philadelphia.htm - Bureau of Labor Statistics (take a look at table 1)https://www.philadelphiafed.org/-/media/research-and-data/regional-economy/beige-book/2020/200415-bb.pdf?

Important thing is for you to understand when you see this and stick to your numbers, don't reach.Also, I know you're just practicing with underwriting so you're grabbing the first thing off loopnet to crunch some numbers but when you start filtering down to your target market, you're going to want to know how the taxes will work and what the mill rate will be so you can calculate accurate tax figures.You'll likely also need 10% of loan amount in liquid funds post closing so factor that into how much money you need to bring to the table, in addition to the down payment.If you plan on syndicating, definitely need to practice calculating IRR and CoC based off different splits and prefs/no prefs.

When you take those figure it is technically a recapture.When you look at how the depreciation table is, in the five period it is normally called the breakeven point for add back.

There are landlord/rental owner/multi family advocacy/ lobby groups... every city/state has them... they are our political voice and are always at the table when tenant/LL issues are being discussed.  

For example if they accept an offer with an escalation clause rather than issuing multiple counter offers, or simply allowing buyers to continue bidding against each other for as many rounds as possible, they may be leaving money on the table.

However, if I don't refinance, I will be leaving money on the table for a whole year.Thoughts?

Also, curious, what makes you think you're the only offer on the table? 

Provided you select a local team of independent, best-in-class service providers all focused on serving you with no conflicts of interest or under-the-table collusion, I see no reason to spend your hard-earned profits visiting the properties.

Both can bring valuable knowledge to the table, so it's wise to evaluate what you hope to get out of the conversation first.

Options 1 and 5 would be off the table for now.