This will influence your business decisions.  

With that many units, I'd also think it likely that these would be set up to automatically pay electronically, increasing the likelihood of missing one.

If the sponsor increases the value of the property by 25%, it can absorb a pretty significant market correction...or the sponsor can just hang on with long-term debt and cash flow the property until market conditions improve for an exit. 

Marcus,I have a number properties in the area, combined increase is 72k .. it doesn't look consistent between even my similar properties located in the areaI can email you the list, but here are few:7817-19 W Beckett Ave - increase of 112004023 N 68 st increase 7500 for SFR8220 W Muriel PL - increase of 5400The problem that being out if state owner, I can't just walk in the officeThanks for generously offering your helpLeonid

Minneapolis just passed a 40% property tax reduction for properties which are considered affordable: http://www.startribune.com/tax-break-will-increase...

Increasing taxes on existing landlords are just being passed on the renters.  

Getting the ADU permitted will increase the total square footage listed in the county records and increase the value of the home.

Also youMay be able to increase rents to increase performance after you get it.

Rents could be increased to 4000k without any addtl work on the property which you could estimate property value would be 230k with increased rents.

Last: the numbers are tight because of the Boston market, but i see this property continuing to increase in value over a long term (20+).