Not the most economical heat source but then you aren't the one paying for the heat.

Cedar is in okay shape, say 10% replacement at max.I've read every article I can find here and googled on how to change this economically. 

I have always done well in the "good" times but seem to never quite be prepared for downturns, and certainly not the economic dumpster fire we had in 2008!

In a prior post, someone had asked about the economics, rent, cap rate, etc.

From my wifes point of view, it scares her to death that I am contemplating leaving the steady well paying paycheck with great benefits for a job with unsteady paychecks, no benefits, in an industry that has destroyed people in this past economic decline.

Most professional investors buy apartments for the stream of economic benefits they estimate the property will produce.

In fact, most of them are sending me MLS listed properties which is indicative of either the difficulty in finding real deals or their lack of marketing.As an example of just how crazy the market is near where I live (Beverly Hills, Miracle Mile, Beverly Grove area),  my wife Catherine instagramed this photo the other day while she was door-knocking her farm.If I were to get into wholesaling, I would focus on more economically depressed areas with decent turnover (among many many other factors).

Delta is a mathematical term, not unique to engineering, but finance, accounting, economics and statistical analysis.   

For Multifamily, here is how I break down my underwriting pro-forma and the expense cost rules of thumb I use:Annual Income:+Gross Potential Rents (Market Rate x Units x 12 months)- Concessions (depends on the market, but I try to limit to 3% GPR)- Economic Vacancy (physical vacancy + bad debt + loss to lease)= Total Rental Income+ Utility Income (based on past RUBs history or the per door flat fees)+ Other Income Items (Laundry, revenue share contracts, late fees, app fees, etc.)= Total IncomeAnnual Expenses:+ RE Taxes (usually use 3% increase over last tax bill, but make sure your area won't reassess immediately upon the sale at the new price, which could drastically increase the taxes)+ Insurance (my rate is about $200/door....yours will be different, talk to your agent)+ Management Fee (3-5% depending on size and company used)+ Administrative costs ($150/door)+ Payroll ($900/door, but the smaller the complex, the higher this cost usually goes)+ Marketing ($125/door, again it depends on the property size and market)+ Utilities (usually do a 3-4% increase over the past 12 month total)+ Repairs/Turns/Contract Services/any maintenance (depends on the age, I buy late 60's to early 70's vintage stuff and usually spend $750-800/unit....this goes down as the property is newer or renovated)+ Reserves (this will depend on your financing, but I place it above the NOI line here because if the bank requires it, it is an upfront expense monthly....usually $250-350/door)= Total ExpensesNOI = Total Income - Total ExpensesThis generally works well for properties 20+, but might not work so well for smaller complexes.

Do you mostly look at macro economic factors for your area of interest?