Apartment Investing Criteria - Why no love for mid and hi-rise?

[Andrew Pugh]

Hey BPers, I spent the last couple of hours browsing the websites of a variety of apartment buyers around the country and a couple of things stand out:

1. Many only want garden style / low-rise apartments

2. Many only want properties built in the early 1980s or newer

What would be the main motivation for those criteria?  Thanks!