What worries me is that if I were to sell today for market value, the profit would be considered the difference between my new cost basis (which is now a decent bit lower than actual payoff) and sales price and I could very well end up paying money to sell, even when at first glance, there appears to be a gain. 

I would put less weight on school district for 1 BR and 2BR - your target audience will not be a family with kids in school age, maybe a baby.Approach it from the other side: how much is your target audience bringing home net every month?

Sounds like a big deal.For those of you with experience on flat roofs--popular in Baltimore--how do you feel they'll handle the weight of all this predicted snowfall?

With a great team, we can limit your spending costs together and help gain financial and/or rehab success.

I'm looking at selling my personal residence at the two year mark so I won't have capital gains.

However, even if the general area population is stable, specific sub-areas could be losing or gaining population.

Pretty basic question: what is the best way to model appreciation gains in a long-term multifamily analysis if multifamily values are based on NOI and cap rate? 

Start small to gain experience.  

I joined BP to gain as much knowledge as I can about real estate investing. 

The 30-60k profit would have had significantly less long term value than preserving the gains, along with getting principle pay down, cash flow and also slowly build up more annuities.