Well in absence of useful sources I refreshed my memory from my college economics classes and did some net present value calculations and it appears that this type of decision making is pretty much the same for inflationary and deflationary environments.

So, net present value of 15k revenue 5k expenses compared to 10% investment.

5% inflation compared to 15% investment(10% above inflation)

((15000/.95^x)-(5000/.95^x))/1.15^x

No inflation/deflation comparing revenue stream to 10% investmet:

10000/1.1^x

5% deflation compared to 5% investment(10% above "negative" 5% inflation)

((15000/1.05^x)-(5000/1.05^x))/1.05^x'

So there are no disasters apparent in a simple NPV analysis.