If the appraiser calls it out, assume a qualified licensed inspector of the thing will be required to inspect and comment on remaining economic life of the thing, and if he says it's no good, dead deal.

As for property appreciation it is tough to time the market (similar to trying to time the stock market).  

I even put this number next to a 7% growth in the stock market to see how it would compare and most properties peak in their difference over the stock market around year 12-15 on a 30 year loan.Do you include the loan paydown?

I have a property manager managing the place.I recently went by the property and noticed the lawn is dead.  

Some trust real estate, some trust the stock market etc. 

@Daniel Saunders,Get familiar with how to raise money from people with self-directed retirement accounts, or folks with retirement accounts who are looking for better returns with less volatility than the stock market.By definition, private lenders are people with whom you have established a relationship before discussing money.

For instance if you had a hundred grand in the house and the stock market went up 10% in that year, you lost 10k of potential earnings by having it in the house vs investing it elsewhere.

Capital expenses tend to level out over time, rents tend to increase, and trying to time new roofs & new HVAC at the same time as a market high is like trying to time the stock market.

One resident mentioned a stove that has only had 2 burners working (Oven is dead too)for 3 years.

They say it's a house cat but has been bringing them dead mice.