They often have insider knowledge about upcoming projects and market trends.Attend Community Meetings and Workshops: Many cities host community meetings, workshops, or open houses specifically for discussing future development plans.

How much would market rent be for something like this?

Three or more months and have the renters pay for water and electric but offer Internet and yard care. 

The question regardless of what market you're in is: "How do I add value?"

The 50% rule states that approximately 50% of EGI will typically be consumed by operating expenses.While the 50% rule provides a quick estimate, actual expenses can vary widely depending on the property type, location, age, condition, tenant mix, and market conditions.Here's an example: if a property generates $200,000 in EGI per year, the 50% rule suggests $100,000 would go towards operating expenses like taxes, insurance, utilities, and property management.

"The market will come down".

How would I analyze a deal in a market where the rents are capitulating and is unsure how much or how long it will continue to do so?

Please DM me if you would like to chat on our current projects  in those areas including market conditions, leads and lead generation.   

They have been good as tenants, but I'm charging well below market with the agreement that the units are as-is and non-residential.The building is partially renovated, partially demo'd, has ancient plumbing and electrical.

You can invest in any market selecting the ones that you believe are seeing the most growth, and do it from anywhere.