I would agree with @Joshua Schmidt's sentiment. 

I echo your sentiment about Brandon and David, that's funny.

@Trevor Ewen I second your sentiment.

I'm surprised by all the comments in this thread and the sentiment on BP in general that CF is somehow predictable while appreciation is speculative.

You may face some resistance with the residual sentiment left over by the previous owner that their family member lost their home due to the big bad bank.

This is a conservative approach and captures the sentiment that you’re echoing that it seems like prices are at all time highs.

However, the sentiment that I have gotten from, and generally agree with, in listening to various BP podcasts/books, etc. is that for someone in a position such as my own or Alexander's, what is most important is getting that first deal.

I dont want to just sell it like i mentioned i inherited the house from a really close friend that passed so it has a lot of sentimental value to me so that is what affected my decision on the property. yes my taxes are rolled into my mortgage but i did forget about my $260 annually HOA.

Obviously we can't predict it completely, but there are indicators...the Yield Curve, the ABI (Architectural Billings Index), Consumer Sentiment, the Federal Reserve Bank of New York's Recession Probability Model.

However, as correctly pointed out in other posts, a "growing" cap rate is actually not a good thing because cap rate is more of a measure of investor sentiments (i.e. demand and/or risk) - the higher the cap rate the higher the risk and the lower the value, but the OP (like so many other investors) sees cap rate as a performance measure where growth in cap rate is growth in income/rents which is a good thing.The answer to the OP's question really comes down to anything that leads to growth in income/rents - it's the economy, demographics, employment, location, etc. etc.