Im still fairly new to BP myself but I already see great value in being involvedI like that you are venturing into new construction also, i have helped my dad build homes in Irving and it has gone pretty well currently working on the 4th.

So, referring to the original question, what do you believe is the fair market rule for rent to purchase ratio in Knoxville?

In other words it is fairly pointless.

They will eventually arrive at a "fair" value - that they determine.

Lifestyles Unlimited is controversial here at BP, but one thing they clearly don't get enough credit for is issuing deal sponsor guidelines that are fair to all parties.You have no track record, and are justifying taking equity based on pro formas that may or may not be realized.  

Life isn’t fair, but it’s still good.2.

Just dividing the utility by the number of units doesnt seem fair to me, and (seems to me) might aggravate the tenants on the remote chance of them discovering it.

Danger: Fairly new investor trying to invest in multifamily in a out of state market, thousands of miles away, with little market familiarity, no well establish & trusted professional network there, and money burning a hole in their pocket is one of the riskiest conditions I can imagine, second only to perhaps trying to flip in that remote market.

Fair enough. 

The bubbles seem fairly typical for a new install in my experience,it's not something I would worry about.