The preferred returns offered on their funds have come down a few points which I believe reflects the overall state of the market for distressed debt.

I don't think the property taxes on my other one have "caught up" to reflect the increased price paid for that property (if/when they do, my cash flow will drop a tad).I think this deal is a little lean but it's tempting because it's with the same provider, I trust the PM, and it gets me off the sidelines in 2018. 

But that's not a reflection of all property in all prices.

Especially poignant on this particular site where the owner is always trying to sell me books and make me watch worthless webinars full of fluff.

If the condition changes your offer would need to be updated to reflect the change of condition.In this case, I'd say you can't force them to sell you the property, rather you can walk away with your money since property is no longer in same condition.I mean I'm pretty sure it's relatively standard clause that talks about final walk through....

Your example reflects a depreciation in Cleveland that is worse when including an inflation factor.  

SF Bay Area experiences mass exodus of residents, leading to a shortage of U-Haul trucks and sky-high prices for scarce outbound truckshttp://www.aei.org/publication/san-francisco-bay-area-experiences-mass-exodus-of-residents-reflected-in-one-way-u-haul-truck-rental-rates/I first heard about the "U-Haul Index" in the mid 2000s when record numbers of people were leaving the Bay Area.

I wrote a BiggerPockets blog post on how to find comps and calculate ARV that you may find helpful:https://www.biggerpockets.com/blogs/8814/68395-how-to-find-real-estate-comps-and-calculate-after-repair-valueKeep in mind the comps should reflect what your BRRRR will look like after rehab.

Reflect when I was finished.So to that end, mental preparation was along the lines of : "Ok, lots of people have worked in this small crawl space.

Since it was only a duplex, a smaller capital expenditure, and a very large value add opportunity, I knew re-selling quickly would outweigh a holding period of longer than 365 days.With the new market rents at $1,700 and the duplex now stabilized to reflect market value, the property was listed for sale for $359,000 40 days after closing.