This may be a small or large geographic area but should be consistent across the entire area.

I wouldn't worry about it, especially since he's been paying his rent on time consistently. 

Hello all,Over the past several weeks i have been analyzing an off market FSBO 8 unit apartment building and would love to know your thoughts on this deal.Current owner purchased in 2002 for $210,000Was listed in 2007 for $429,900 (listing expired, not sold)-The owner is currently asking $349,000- The property consists of:6 one bedroom apartments 2 two bedroom apartments Coin operated laundryStorage shedTenants are on a month to month lease and average rent is $665/month (my calculations are based at $675/mo due to coin opp income, storage shed income when rented out, and converting a tenant paying weekly to a $675/mo lease)All 8 units are heated by electric baseboard heat and separately metered.

I'm hoping the consistency pays off in the long run. 

Here is the background:Sales price $575,000, building square feet 1,719/land square feet 5,762Taxes are $3,204.07Property consist of commerical store front with attached rear residence and  detached 2 studio units. (2 buildings total)Permit history of the rear residence and detached studios are unknown and requires further research.County assessors office shows the property use type as commercial and buiding square feet at 1,113.Store front building was used as a bridal studio and owner lived in the attached residence.

LOLNed all our turn key low value cities are littered with Aussies who invested thinking a 30 or 40k house can be managed from OZ  and had no clue as to how hard it is to get consistent rent.. how vandals work.. etc etc. 

If I have a tenant that has been paying consistently on time over the course of a year and lease is about to end.

On the Big Island, occupancies are similar year round but the rates (while lower) are steadier and more consistent.

On finding good investments in Las Vegas, we consistently find balanced appreciation and return properties that generate returns between 4% and 8%.

Are they reliable, is the product consistent, how far away are they, is the product common or is it a special order and how stable are prices, you can't sell at $1.50 today and $1,80 the next day!