You can also split the difference by looking at the historic energy usage for the property and setting that as a utility 'cap.'

Affordable housing is about the housing itself and the economic environment it is created in.

Rod is an ACTIVE mentor, which takes a lot of time/energy. 

Economically growing area. 

I can also allow a tenant to grow with me - just moved a family from a two bedroom to a three bedroom apartment.Personally the only reasons I would choose to invest in multiple markets is a) because I wanted an excuse to go somewhere regularly or b) for economic/geographic diversity.I had the advantage that my home market was good.

This had nothing to do with economic or underwriting issues but was driven by covid and many workers beginning to work from home. 

We hear from a lot of out of state investors that Milwaukee is a great place to invest in real estate due to its affordability and strong economic growth. 

You could create an operating agreement granting one of you the powers - but it is a fair amount of energy/time/activity for someone to manage and find deals.

Generally larger commercial properties and shopping centers are easier to classify with hard and fast rules, but to the points above the residential areas really move very quickly and have way more nuance than most people care to admit.zip codes are generally way too large for my liking at least in my market to provide any kind of insights other than macro level economics but even then highways or rivers that cut through a zip code can end up with totally different trade areas.we can get pretty granular with cellphone data and with grocery center data to understand the trade areas and their true boundaries, but that kind of data pull is generally only cost effective for investors doing larger scale projects or developments, and honestly we still just end up getting on the ground and feeling it out, so I generally tell people that the money is better spent on a plane ticket and weekend trip in the area you are looking rather than any kind of "trade area" level data studies.and generally B class in 1 area means something different than another. 

Additionally, add in the ambiguity/risk of the due on sale clause or ramifications on the conventional loan of transferring the property from your individual name to an LLC - the economics don't make sense, and the headache isn't worth it even if it did, in my opinion!