In this case the property cap rate reflects MY my valuation, and the market cap rate reflects my competing investors' valuation.

That's just me though and more reflective of my personality.

The design intent is to have the additions reflect the clients modern minimalistic style while respecting the Florida's vernacular that is common in the area.

Shouldn’t a Master Lease Payment be considered a DST operating expense and therefore be reflected in the proforma, the banker has asked.I have spent a lot of time trying to understand the whole 1031/DST/UPREIT space.

Is the appraisal actually low, or is it just that it doesn't reflect the current (possibly inflated) market?

When you buy a new place the taxes sooner or later (depending on locale) will adjust up to reflect the acquisition price.  

I've seen both appraisal valuation and market sales reflect a roughly $20-$25k premium for fresh water lots vs. dry lots.

The first spreadsheet reflects that [she] logged 844.75 hours managing the rental properties . . .  

Newbies learn the 1% rule and think it accurately reflects return but in many areas it reflects the effort/risk.In my market I can get duplex to quad at close to 1% that I would not desire in my RE portfolio. 

I'm evaluating a property that has had a lot of capital improvements and because of its location, are not reflected in the value of the property.