.- You talk as if all they do is mislead- meaning they intentionally misinform the buyer- 100% of the time and you act as if 100% of realtors operate 100% above board, 100% of the time.If they borrow $20 from their mom to use for EMD_-their mom loses:) - no realtors have ever borrowed $$ from Mom I suppose?

Some areas in the nation are dying, and may actually experience negative appreciation, these areas should be avoided regardless if you are trying to buy for cashflow or appreciation. 

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

Appraiser Board.

good luck and reach out if you need an Idaho mountains sounding board.  

Since warehouse seems like it is allowed and already there, that should shoot down your use variance argument - just build another warehouse, your local Zoning Hearing Board should say. 

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

My partner is on the board of the MHCA here and has some powerful resources as well. 

Looking for input from someone that is currently developing and building new MF, before I go in front of planning board with plans. 

Every market will have investors who are willing to pay less than the market cap and investors who will only buy if it's higher than market, but the average investor in that market is going to pay that cap rate.Large national brokerages track sales and cap rates from those sales and can be a good source for generally reliable market rates, but the reality is that there is no one source with the exact (agreed upon) cap rate.It's very similar to residential in that it's not an exact science.