Effective average rent has increased by $16/unit, now at $1,000/unit (remember, averages are meaningless - submarkets determine actual rents) and the effective average rate is now $1.13/sq ft.That information can help you determine where your offer fits in.The real opportunity lies with the flooded properties without insurance that may need to be sold in order to be recovered.

Excel never lies.

There are units along the water and then 3 large buildings set back off the water. https://en.wikipedia.org/wiki/Marina_ClubThe unit I am under contract for is on the first floor of the buildings along the water.My concern lies with the 3 larger (4 story 32 unit) buildings set back off the water. 1 of them is completely vacant and appears to have been up for sale for the past 6 years!

The challenge lies in understanding the vacancy.When fully occupied, you will have more income.

I'm not going to lie to you and am going to go right into the meat of it.

And you're right, do not lie about whether it's owner-occupied.

If it doesn't, does the fact that he lied in a legal document (my deposit receipt) void me from having to wait 60 days?

Chances are that the tenant is lying.

If they're that way, and they're chasing new business down and they have 30+ full time property managers, I think there's a lie in there somewhere.

If you think I'm wrong then take a look at my bank account my millions don't lie.