We were harder on the apartment than an average tenant most likely would have been as far as carpets go but nothing major. 

I would say on average, we are using a 10 basis point per year increase when looking at deals.

What is your average vacancy rate?

Data indicates that over the life time of a property the expenses will on average run 50%.

In the last 6 months, the average days on market for our rentals has been 3 days.

I started out in NNN lease investing but it's difficult for the average investor as prices are high.  

@Kyle CurtinUnlike stocks, real estate lags because of its less liquid then stocks.In six months, there most likely will be very little change from todays conditions which are interest rates more in line with historical averages and continued downward pressure on pricing.

The average house cost may still decline, but that would be because of the higher priced homes still declining some and bringing down the averages with them, but these lower end homes will probably remain steady for a while or even increase some.

The price would be $2,200,000 gross which is roughly a 5.5% cap (what would you consider to be an average cap rate today?).

Memphis TN has one of the best cash flowing markets and strong rental markets and I can tell you that the average home selling for $50K with repairs included is renting for about $850 per month.