Thus far I came with the following metrics:Rental Yields (historic and projection)Mortgage Interest Rates (historic and projection)The spread between the two aboveTaxes (Upon purchase, tax on rent and on capital gains)Tourism (trend)GDP per Capita (historic and projections)Median purchase price per SQFMedian rental price per SQFMedian Free income (after income tax)Nearby Hospitals (existing and planned)Nearby Airports (existing and planned)DoingBusiness Score (various criteria related to Real Estate )Population Growth rates (historic and projections)Nearby Public TransportationDivorce RatesAverage Marriage AgeJob GrowthHousehold Debt (trend and projection)Country Debt (trend and projection)Is there a financial institute that will refinance an asset I purchase at 75% LTV or more (implementing BRRRR)Owners:Renters RatioTenant or Landlord biased law systemHi Tech corporates planning to open HQs in the areaCurrency Inflation/Deflation (historic and projections)Construction permits (historic and projections)Constructions starts (historic and projections)New apartments soldNew apartments median priceExisting apartments SoldExisting apartments median priceTotal debt through Mortgages (historic and projections)Unemployment Rates (Historic and projections)Average number of dates a new/existing apartment is for saleOther demographic attributes and preferences of the locals Thanks,Alon

It’s not just appreciation that makes a property a good buy 3-5 years down the road it is a strong rental area, mechanicals, and rental friendly flooring, yard, etc.I have a client that has bought 14 units in 6 months he was not waiting for a home run, just good fundamentals and good rental attributes.

You'll also have to recapture any gain attributed to depreciation.So if you sold a property and 1031d it into a new property. 

Both have great attributes.

Even in a condo building, or a cookie cutter SFR neighborhoods, each parcel is different, every house has its unique attributes.

And you do not simply "split cash" - it is more complicated than that.Partnership agreements can specify allocations of tax attributes, including net income and depreciation, and it does not necessarily match cash distributions.

I'm thinking if it were segerable it might be easier to separately write off the purchase price tax basis attributable to it.

If debt-financed real estate is acquired via an IRA, any income attributable to such investment will generally be subject to unrelated debt finance income tax.5.

But, I'm also not sure what to make of the business model at this point:$45M losses on 414 houses sold before the pending downturn would certainly make me nervous as a shareholder (I am not a shareholder and don't plan to be...ever)I wonder what they attribute losses to - poor market, poor developer choices, both, other?

There aren't necessarily certain attributes/characteristics that prevent deals from being worthwhile, unit count or otherwise.