1) How did you confirm that it was leased for $1,200/wk? We know it was advertised for that but then it was advertised for $1,300/wk a couple of weeks ago. Asking prices don't drop in a tight market.
2) It was advertised for 36 days before being rented, not exactly a tight rental market.
3) In 2009, it had to drop from $1,000/wk to $750/wk before someone rented it.
4) What is the estimated yield? If it's a million dollar plus property then it's an average yield.
