Regulations forced banks to dump properties during the GR, which drove much of the huge price crash.

Next I’d consider natural appreciation vs forced appreciation.

Unfortunately, we are now forced to fill a vacancy in November which is not ideal.

What @James Wise said.Plus, 60 amps, that might be old 110V service and those old fabric covered wires.The flickering and surging might be the OLDEN DAYS fabric wires arcing inside the walls (a fire on it's way to starting).Even if the outlets have 3 prong holes and you see some ROMEX, it doesn't mean they redid the whole system with ROMEX, there will be hidden from view junction boxes that might still have old wire in them, or old plastered over live wires.Fix it quick--flickering and surging is not a good thing--it's very dangerous.You may be forced by law to bring it up to current code, GFCI Breakers, etc... ($$$$)And make sure the smoke detectors are up (not expired) and working properly.I shudder to think how you will feel if someone burns to death in there.

Diversity of renters, length of leases in place, property condition, and location can also affect risk and value, ultimately impacting the cap rate.When someone says a property has a cap rate of 5%, or that assets in a given area are trading around a 5-cap, they are talking about the return on that property.

They were forced to do an appraisal on the property in Texas to prove it had 25% equity.

Some of the best I have read are:- The Hands Off Investor - Brian Burke- The Best Ever Apartment Syndication Book - Fairless and Hicks(I realize that the above books are heavily weighted in syndication, but feel these contain valuable information that does apply to MFHs)So I ask the group, what books about multifamily investing have you read that have made a day to day impact on how you have acquired, financed and/or managed your multifamily properties? 

The networking hours to hear about different strategies, stories and niches were especially impactful in my opinion.

State laws may also impact the claim. 

This has made a major impact in my life.