The majority may be good but the bad ones will drive you out of the business.  

We get over 1.7% in the US so wouldn't go there for anything bellow that. the PM part is a key factor for an out of area investor, so without that its a no go.

Everything checks out on it except that the driveway leading up to it on the side is a dog kennel and when you drive by all the dogs begin barking.

Either way, the best method to analyze what is driving the loss to lease numbers is by looking at recently leased up units.

Many homes throughout the US are priced at or near your condo's price, you may be surprised how easy it is to find financing (subject to your credit profile and other mitigating factors)

Door knocking, leaving postcards/biz card/flyer, driving for dollars then mailing or door knocking, and proven wholesalers are a good place to start.

When those go out they have a very small building in the middle that tend to not work for most tenants and drive up parking.One of the better uses I have seen on vacant ones is like a Hertz rental car or Enterprise.The key with small commercial properties is knowing rents are below market with the current lease.

A lot of landlords routinely change furnace filters and drive by to make sure the lawn is being mowed.

So that might be driving some of the rent up.I was speaking with an agent who said they were still getting a steady stream of buyers who just couldn’t qualify over $300k.

The main factor for me, if I try to correct the tax records, it might end up getting into higher tax bracket  and it may not be attractive investment anymore, but the big question I have is, will the city/county put it into higher tax bracket if we increase number of rooms and dont have to increase sq ft size at the tax records?