I've begun to look at properties now, and a few interest me but not what they are currently advertised at, in this current stage of the market cycle what is appropriate to offer?

Then the cycle begins anew and might take longer if the new tenant is much younger.

The tenant wasn't medically declared as disabled and miraculously managed to walk out of the apartment (with assistance from her partner).

So a sponsor that's great for one investor will probably be terrible for another (and vice versa).I'm a conservative investor, so when I invest in multi-family I prefer sponsors that have at least one full real-estate cycle of experience, little to no money lost, low leverage, and high skin in the game.And there is an apartment operator that has multiple real estate cycles of experience (decades) with no money lost, low 65% less LTV, and high 10%+ skin in the game.They market under 506B so are prohibited from posting publicly on the Internet and instead function by referrals.

In my home country, land subdivision can be very lucrative as it usually requires little money down and the cycle is usually faster than construction (less than a year).

@Amna KhanExperiencing cold feet is a common feeling in real estate investing, especially in a high interest rate environment such as the current market cycle when the numbers / deal analysis can be tight. 

So, as a long term investment, you need to weigh your total life cycle costs that are going to increase if you refinance vs. the short term "cashflow" gain right now.  

BTW, the Solo 401K is said to avoid this.To be positive, I have average about 30% IRR as a passive investor in MF syndications on the 15 deals that have gone full cycle (started in 2010), so there GOLD in them there hills.

We have been through a couple of counter offer cycles but we have now been told that another realtor's clients had an interest in it also.

It's crazy to condense these 4 years into about an hour of reading and see all the cycles of this mess.