Condition of the Property and the property sat on the market for a long period of time.

Period.

Not until December 18th did the numbers begin to surge.During the impact period, occupancy rates jumped up to an impressive 83% on Christmas day and topped out at 87% on December 29th.

Here's a clip from the article in the Gazette:  Colorado Springs continues to be one of the country’s hottest housing markets, a federal report released this week shows.Local home prices spiked 11% in the fourth quarter of 2019 when compared with the same period a year earlier, an increase that ranked No. 2 among the nation’s 100 largest metro areas, according to the Federal Housing Finance Agency.Only Boise City, Idaho, with a 12.7% gain in home prices, had a larger increase on a year-over-year basis, the agency’s report showed.

Will you pay half of the mortgage payments during periods of vacancy?

While I am sure this might happen, sellers dont have to accept any offer and many times the offer that is accepted has what the seller wants - for example a fast close, short contingency period etc. lots of times its not about being top bid, but the ability to close. 

@Darshil Parikh Given a 2-3 year period, what kind of numbers would you like to see?  

87% of people who get a real estate license do not even renew it on the first renewal period. 

During our due diligence period, I wanted to go bigger and as luck would have it, there was a 16 unit property on the market.

During our due diligence period, I wanted to go bigger and as luck would have it, there was a 16 unit property on the market.