Wonderful reflection my friend! 

In its current state:Current NOI: $79,058 (based on 80% occupancy).Current Cap Rate (at $1.25M): 6.32%, reflecting the property’s as-is performance.Value at a 7.5% Cap Rate (Market): $1.05M, based on current NOI.Given the renovations, vacancies, and risks tied to stabilizing the property, I’m considering offering $850K to reflect its current state and value-add potential.

I'm curious, at what point does this reflect poorly on PM and suggest I should get antoher PM?

The price should reflect the current performance, not the seller’s expectations for the future.Seller financing is a big plus.

Have you taken the time to sit down and reflect on last year and how you did compared to the goals you set for yourself in 2024?

If they push back, you might consider adjusting the rent to reflect the change.

North Carolina, Florida and Tennessee round out the five leading growth states.And, for the fifth year in a row, California reflected the largest net loss of one-way movers, according to the data.

Helps me reflect on the day and see what needs to change in that

If the number is in fact 10% I would not change that number in your calculations.These numbers on vacancies change quarterly, so your numbers should reflect the changes.  

One of the key inputs is a score reflecting a property’s condition (based on listing photos).