I also ran across several articles after 2003 where he says it's true.

@Jeffrey Charter It's true that given a fixed amount of NOI, the higher the cap rate the lower the price but from our perspective price does not equal value.

And that argument is most often true, so you get better cash flow and have more money leftover to hopefully buy a second cheap property.That being said, there is no right or wrong answer.

True, though consideration doesn't need to be monetary.

There is also a coffee shop on the first floor.

There is also a coffee shop/ restaurant on the first floor.

@Kenneth Wong My grandpa used to repeat the old saying, "If it sounds too good to be true, it is".

If a buyer incurs an expense in acquiring a property, directly related to that transaction you may be in violation of loan settlements, cost disclosures, tax claims as to the true basis, the accounting requirements for settlement and could get sideways with TILA issues.

and others say that the price is the price.Are these kinds of deals just dead in the water or has anyone had any success sending off an estimate of the true value based on actual expenses?

Shop around, insurance is goofy in florida!