I did do market research, but it was hard to compare as most of the apartments were much larger in living space, had a tiny backyard/patio, and did not have a personal driveway with a security gate.

I did do market research, but it was hard to compare as most of the apartments were much larger in living space, had a tiny backyard/patio, and did not have a personal driveway with a security gate.

@Ben Flaskrud I’m not saying it will work in every market, but spent 2 hours a couple months ago comparing these high prices accompanied with low interest rates, to lower priced homes with more traditional interest rates.

I know by looking at comparables you can determine how much could be made on a property but how do you work backwards?

We have been through 2 months of appraisals with 2 different appraisers both of which have refused to appraise our property because they claim that there is a lack of comparable properties in the area. 

If I put it on the market today, it would be worth $100,000 more than a comparable home in a residential area.

With single family homes you may get a little cashflow and the properties may appreciate a little but that is peanuts compared to multi-unit properties.

5k down sounds pretty good compared to what I’ve been seeing. 

We have been through 2 months of appraisals with 2 different appraisers both of which have refused to appraise our property because they claim that there is a lack of comparable properties in the area.

I think the best way is to emphasize how you're giving them a deal by not increasing it more than the CPI or also show how your expenses have increased over the year compared to the previous year.