Dude don't even compare IRR its a meaningless metric cause the assumptions are really misrepresented to get it.IRR is the Internal Rate of Return.

If you are needing value then you need those comparable properties to compare with.  

This means I'd live part time in Big Sky with my partner for awhile until finding a comparable job in that area.

I'm trying to find 3 sold and 3 active but there's not much to compare to in the last year.

I use rentometer.com to compare rent withinthe property proximity.

The closing is suppose to be in mid 2025 but all they are asking for is a 10% deposit upfront that is all (5% if I qualify woth the bond company to put in the other 5%) Closing cost are extremely low comparing to other markets there’s no land transfer cost.

I’m not sure where you’d find an 85% LTV lender as mentioned above, but I’d that exists in the SF market I would sure love to know who’s offering those terms and if the rate/fees are comparable. 

The cold can be hard on properties and cause higher repair expenses compared to properties in California.

Tax affected P/E ratio is 37/.75= 49, we will call it 50 to make the following math easy.Lets compare it against REI. 

Cash flow is pennies on the dollar compared to the cost of the asset, it is more of a defensive measure to ensure you have liquid assets to maintain the property.