It appears to be that this was for a weed assessment made in 2016 (2 years before our ownership).

We can only truly determine what’s happening now. 5-7-10 years from now we can work to give our best understanding of what that cap will be based on what the market has told us and our perspective take on interest rates and path of progress will be etc. if you are entering a property at a 10 cap to say when the market has traditionally been a 5 cap it would be silly to say just add .5 and your exit cap a 10.5 and would keep you out of many deals.You want to do your best to determine than run it through other scenarios to stress the result so you can best understand most impacts to your hold

As the conversation progresses, if it does, I start looking up the property while talking to them. 

No one is born with knowledge it is acquired as we progress!

What was it like the first time you drove a car, changed a tire, replaced a hot water heater, or reloaded shotgun shells on a progressive reloader? 

Important things are the T12 income/expense, rent roll, property tax assessment, etc. 

Nothing like getting a letter that state a new whatever is needed and the assessment equals thousands which is due within 60 days.

For one, they don't make'em like this anymore; these all-brick exteriors are like little tanks, it's tough to ding them up much, but the level of deferred maintenance on roofs, porches, windows, systems, and the actual interiors can be rather extensive and often difficult to assess up front.

Please correct me if my assessment is wrong: it was buyers market during 2009-2012, transitioning to sellers during 2013, sellers market during 2014-2017, transitioning to buyers during 2018, and buyers during 2019. 

@Nicholas WhitesideYou can but you need to get the lenders approval and they may have to re-assess the loan for the LLC.