The fact that you recognize a property like that means you are getting a feel for your area.

@Taryn Elbaor, @AUDREY DESOUZAhas the right idea. 1031 is a federal statute but most states also follow suit and recognize the same process.  

We found rotting floor joist, a mold problem, and some risky tenants He did not want to recognize the risk we where exposed too and the deal fell apart.My misstate was agreeing to a low cap rate before starting due diligence with out communicating my intent. 

Please forgive any grammar mistakes - I am using voice recognition software which doesn't always recognize my voice.

I don't know how active you are in the forums but the more you are the more you start to recognize who the seasoned players are.

So can about 100 other mid-sized to large cities and every time I read what you write I recognize that you promote cities where you invest.  

@Ned Carey The 3 or less comes from SEC regulations for small partnerships and raising funds, care needs to be taken that the entity is not recognized as raising capital and a note is a bond.

I found it easier to recognize relative value this way. 

Typically, but not always, C class properties are older than an A, and therefore, capex would be higher for older elements of the property.As someone else mentioned, I would recommend recognizing more property and tenant risks than I would capex.  

Because its the "Beach" more people recognize it thus drawing more attention to the city and more people.