They are looking at comparables from six months ago in many cases, which can hold value down. 

If you sell in 1-2 years take into account the market could swing, in a market like yours(OR) the prices can change quickly compared to a Midwest market. 

I know this is a different approach compared to maybe saving money over time to invest or, even something wholesaling or flipping.

If not, the $250 is still a sunk cost so forget about that part - you're comparing $700 to the cost of a new system.

@Bill Brandt first, if you are using year ago data to compare, you will certainly miss the turn and only identify the shift in the market in the past not in the present.

@Bryan Milian1- One month of market research on major metro areas2- Two weeks of talking to leading agents in your top 3 markets3- Four weeks of learning the markets4- Offer, offer, offer- stick to fundamentals...long-term buy-and hold small MF (your available cash will be the number one factor in determining what you can afford and what locations you will end up buying in...you'll be comparing apples to apples in your top 3 markets...as long as you have a top agent, you'll be golden)Best of luck 

I can say from regent experience that there is plenty of demand for rentals in Lowell and rents are pretty high compared to purchase prices.

The buyer then compares the SOW given to the appraiser with the actual SOW provided by the seller directly to the buyer and notices a substantial difference.

What makes me interested in this type of deal is that the value is based on the NOI of the asset and not based on the comparables.

I recommend reviewing the pictures of comparable properties that have sold within the last 6 months at the price point your aiming for.