But, just for the sake of conversation, one of the things that I like to stress to people that don't necessarily know as much is that, during an equity event, your total dollar return amount may decrease, but your CoC goes up!"

Have rental rates been decreasing to keep occupancy high?

Here's a couple blogs on why I like apartments and 28 ideas to add revenue and decrease expenses to improve the NOI of an apartment.  

In his building in Mayaguez he has 2 vacancies for the first time in over 8 years and he has been steadily decreasing rent prices for the past 3 years in order to keep the other units occupied. 

We’re the reductions you saw due to the decrease in home value?

Then as rents decrease you'll see some advantage of smaller operators who will adapt quickly and bring rate in check.

My crystal ball agrees with the 2 to 3 year window of appreciation but at a decreasing rate.  

This will account for any recent gas price increases and decreases.

If the trial was ongoing in 2015 or 2016, could that somehow lead to decreased assessed value (if somehow property taxes weren't being paid and the town took this into account when assessing)?

@Terry Lao my example is from Sec.8 neighborhood where most properties are rented to such Tenants.I bought it for $14K, $6K in repairs, rented for $780.I sure could Rent for $680 to Sec.8, however, it decrease my NOI by $1200/year.