Looking at the expense ratio is a good way to measure that.

Looks like the state is looking to enact a bunch of rent control measures and our new governor may be on board.

My wife and I are undecided on where to settle down but are aiming somewhere between Philadelphia and the Annapolis/DC area. 

One of our nine-unit apartment buildings has been having a few issues with security lately. We've had some packages and equipment stolen along with complaints of non-tenants coming into the common areas at all hours ...

Slumlords give everyone a bad name and causes the city to enact drastic measures rather than just focusing on the bad players. 

Right, there are no value add components to this house.I've realized I rushed into this and told my REA to help me back out of my offer.40-50$/sqft seems absurdly low, but I'll be trying to aim for those numbers in the future.And I understand the mentality of waiting till the next downturn, and I'm sure that a correction is coming as well.

As far as "how to measure value"One comp does not a market make.

HUD Homes are vacant so I accessed it during my inspection period which allowed me to take measurements, order appliances and determine the scope of rehab so work could begin on closing day.

They got back to me asking for the measurements of the fridge and a few days later, without anyone coming on site, they said they were going to replace it.

The cash on cash return is a simplistic measure of the performance of a potential investment property.