Quote from @Brian Dolbeare: Hi all, I’m relatively new to real estate investing and I’m struggling with determining accurate market rents in larger markets, like Pittsburgh.

Thanks for the reply, job and employment data is should help me determine upcoming demand.

Your expense ratio remains flat, and therefore doesn't really create much value in the deal.Compare your 2% rent and expense assumption to what most syndicators underwrite: 5% rent growth after an initial renovation bump; and 2-3% expense growth; and you get vastly different outcomes.As to whose assumptions more closely tie to reality is to be determined, but if you used assumptions more in line with what syndicators are using, I think you will find the return projections narrow dramatically, if not flip to SFRs.  

if there aren't any identical comps, or if they're 120, 140, 162, then you need professional assistance on determining it.you also have to factor in ALL your costs. 

This is similar to other DST that work with CRE assets.Meanwhile, your equity appreciation (or losing) is entirely determined by each house valuation using software --which is objective -- minus 1% "annual management fee".

This scarcity will drive both property prices and rents upward.Housing supply and demand dynamics are more determined by interest rates and state/local economics than by the president and Congress.SummaryWaiting for the election outcome won't give you an advantage.

Just as with LTRs, management is a huge determinant of profitability.

If there is at least 20% of an equity cushion, I think you're safe using the methods described above to determine an appropriate sales price.

Lastly, when they did your appraisals, I assume they determined the market rent via a 1007?

Irs determination “You're considered to use a dwelling unit as a residence if you use it for personal purposes during the tax year for a number of days that's more than the greater of: 14 days, or. 10% of the total days you rent it to others at a fair rental price.”