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How does the proposed acquisition property compare to the competition? Which are the real competing properties, and how will the proposed acquisition compare and compete with each as to location, deferred maintenance, functional obsolescence, management, etc.? If this asset requires rehabilitation, or if a value-add scenario is contemplated, are the projected costs thorough and realistic, and will the market support the rents necessary to make the cost investment realistic? What are the future prospects for the market, and how will that impact the asset?
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