Class A Multifamily in Tallahassee, Florida

[Mark S.]

I'm considering investing in a class A multi-family syndication in Tallahassee, Florida.  Obviously the pitch deck is made to promote the area - employment, rent growth, etc.  Wondering if anyone living in / investing in this area has any thoughts on class A multi-family in this space.  

Sponsor is purchasing for about $180K/unit.  Built about 15 years ago.  Plan is mostly interior upgrades to boost rent by targeted $250/month.  Rent comps show similar properties with rent premiums of about $250-$450.  

Project performance projections look mostly strong; wondering if I'm missing anything that's glaringly obvious to those more familiar with the market.