If the figure arrived at is say, 10% "Capitalization Rate", which you might have set as your initial benchmark, THEN you would hone in on the SPECIFIC (Non-Pro-Forma) details about the property to see if that Cap Rate is justified by the current financials and building condition, and whether it's still a "deal" when LOAN repayments are added to the expenses side(?)

If checks arrive late I send them back and tell them they owe the late fee.

I don't have any special insight, but I don't see much risk of a housing price crash or even a substantial correction in the near future.

@Jeff Brower We would love to get some help finding something, although we don't arrive for four months.

Unless you were here in the crash, none of the cashflow numbers make sense, and buying for an appreciation play is a crapshoot - if you're going to gamble, roulette is a lot more fun.

As soon as I got the Corporation in the mail,, everyone backed out; and the entire project crashed.

Or next market crash lol.

I feel like I finally arrived at the right place.  

Unless you bought right before the 2007 crash, I'm guessing it's worth a lot more today than when you bought it.

Even the brand new one where he predicts 2016 will be a huge crash and savers are losers.