What are the major macro economic factors that attribute to your attraction to that submarket? 

I'm from the SouthCoast area of Massachusetts and I'm interested in multi-family investment properties, and potential flip opportunities mainly in the greater New Bedford/Fall River area.

My main focus is property management and investment real estate sale.

What I’m having real trouble with is if my property has a 5.0% cap rate now, how do I factor the cost of these projects into that?

They literally tell me I am going to risk everything as soon as the market goes down.The fact is I mainly invest for cash flow, appreciation is taken into consideration but, I don't bank on it. 

Thanks for all the comments guys.The main reason I'm asking is because I may not want to live where there are MFHs with numbers that make sense.

If you still are still undecided after considering those factors, I would compare both markets.

This is a follow-up to my last post, wherein I was contemplating walking away from my first potential deal (I did), mainly because of the inability to see any sort of detailed financial history for the 8-unit property.I tried doing some searching for my particular question in the forums, but I can't seem to figure out the right keywords.

I just got a 4 acre city lot rezoned from SR to C and also negotiating on a 1 acre rural industrial lot on a main highway.

Mainly because you are calculating using a Property Tax based on the last price.My client argues that it is reasonable to use current expenses to calculate the price, because you are supposed to create a selling price that is the most attractive for the seller (higher price).