Properly underwriting an apartment building to determine its value in the marketplace is the key to an investor’s success in this business. You simply cannot afford to overpay for a property. Doing so can create cash flow problems from the very outset that will break the bank. Overpaying will also wreak havoc on an investor’s expected returns, not only during the operation of the property, but also at the time of sale. The absolute best time to lock in profits is at the time of purchase!