You may be close in some instances and way off in others but based on historical data you can be a better predictor (which is why notes is also a numbers game and need to buy in quantity)The point I am trying to make is don’t just rely on a calculator.

There are a few trillion reasons why rent collections are in good shape...The magnitude of the unemployment rate has historically not been the catalyst for consumer credit issues...the direction of the rate has though. 

I would avoid some of the close-in areas that have been historically inexpensive but are starting to get trendy like Globeville and Commerce City just due to the industrial pollution in those areas however.

Yes there is, 2%-2,5% per year depending on the built date.There are some special forms of depreciation for historic monuments.

@Justin Thorpe Historically was have struggled in Idaho from a perceived cost of living approach.  

Looking at the US history and historical policy is really all you need to look at to understand how things have become the way they are.

After restoration, we got the property registered on the national historic registry.

We just Got under contract for a beautiful building with a ton of historic features, and instead on coming in and completely gutting out the units, we want to work around these classic features, while providing modern touch and feel; mainly the woodwork around the unit (beautiful floors,trim, doors and kitchen cabinets that I don’t want to touch much).

@Eric KullingHomes in the Encanto Historic District sell for 500k-700k.

It doesn’t sound too unrealistic for historic homes in Downtown/Central Phoenix if you are bringing on a GC. $50/sq.ft. is very low for a full remodel on these historic homes unless you are able to sub out all the work yourself.