Real estate as an asset has historically out-performed most other asset classes consistently due to it being a depleting asset.

I still believe total return should be the measure even though I historically have made orders of magnitude more from appreciation.  

build to rent: new builds rent for $2.00-2.57 per sqft. my favorite neighborhood for new builds is islandview. it's on the east side, by the villages (hip historic area) and east village (another new build hub). plus land is cheapest there (of the new build neighborhoods). what do you think abt these prices per sqft?

The more relevant question is how many of these locations have inflation for this century below the inflation rate (national CPI) meaning the values have decline in inflation adjusted dollars.I have posted many times indicating there is historically an inverse relationship between initial cash flow and the cash flow over a long hold meaning the markets with the best initial cash flow often have the worse historical long term cash flow.These markets usually are best left for local RE investors.Good luck

Consult the owner for a historical perspective regarding previous water penetration. 

Historically it is easy to earn more than F/F rates. 

I'll be working in the southwest and I'm looking in the arts district, historic district, McNeil, section 10, spring valley, south summerlin and mountain home.

Evaluate historical and current vacancy rates, aiming for decreasing trends.Demographics: For younger populations, focus on proximity to parks and schools.

Historical Use and Land Features: - Environmental Historian or Land Use Analyst: Experts who study the historical context and features of the land.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.