But if that inflation was a gentle increase (not like what happened in the 70's), then after a time lag RE starts to reflect the added cost of living, as rents go up as a result of inflation.

The jumps you see in the graph are not an accurate reflection of what actually happened with the population.

If I have a $1,000,000 P&L, I don't care if $100 in Misc is made up...Regarding your pay example, I expect a paystub to reflect what I legally am entitled to, the law requires complete disclosures, but not necessarily down to the penny ($0.01), i'm ok with that if its the level of detail I expect. 

Thus, the property's value is most likely to be reflective of the current income stream.If the buildings were in very poor condition and the most likely strategy by a buyer would be to tear them down and rebuild, then the replacement approach might work, or perhaps the comparable sale approach by comparing land sales and deducting the cost of demolition.The property you are describing sounds like what's known as a "covered land play". 

(We did not know if we wanted to condo convert the building and if we had, we would have wanted the prop to reflect 100% owner occupancy, thus no filing until we decided which path to pursue.)We have been interested in a 3-unit in Hawaii since 1/17.

I've altered my profile on BP to reflect my first name only and blocked anyone from seeing my profile other than colleagues. 

The two aren't mutually exclusive but generally reflect a mind set about what you perceive your energy level is, your current life style and job commitment and whether real estate is a muse calling your name or a vehicle that provides cash so you can pursue your other passions.  

Prices are a reflection of underlying supply and demand characteristics and systemic constructs.

I know rules are better there but prices tend to reflect that.

While your buyer's agent has a fiduciary responsibility to you, he/she also owes you an obligation of "obedience" (this is not my term, but the term used by NAR to reflect one of the core responsibilities that realtors have towards clients).