With it being Airbnb, I was considering buying a unit in a mid-rise condo building or the townhome. 

It's unlikely that the market would continue to rise, but this particular complex stagnates/loses value.

This is a deep issue that will rise it's head again.

from what I've read so far, I know that following big companies head quarters, town renovations (parks, town life), and even yoga studios are markers of an up ad coming neighborhood. are there ways to find out what companies are coming into a town before the market rises?

As a result of the post-sale reassessements, your tax bill will rise significantly.

The number of houses on the market is significantly less than just a year before and prices are on the rise. 

The risk is in several areas: the syndicate itself and the trustworthiness of the constituent parts - it's hard to feel safe parking all of your capital in a project with people you don't have a relationship with, the structure of the deal logistically and legally- whether you're active or passive like @Michael Ealy pointed out there are still risks: Industry Knowledge: You have little knowledge of the industry and so with the best will in the world you'll have to rely on others to guide you unless you wait until you have educated yourself sufficiently to feel good stepping out into such an exposed position right at the beginningGrowth Prediction: With the best market analysis in the world ( believe me I did it for a long time when I was managing a Management Consultant team predicting for M&As with large portfolios) you can still be wrong-footed - a predicted bridge funding falls at the last hurdle, the new Corporate office planned for the huge new park goes under at the year end etc. whilst Real Estate investment always depends on future predictions the quality of the predictions for a large project are crucial and the timing of the project has a large part to play in the returns you can expect- unless you know your way around what truly drives a city /neighbourhood's growth you could be blind - sided by a greedy developer with form but without due and careful diligence.Construction Error: Once ground has broken the risk increases significantly - you can get into negative equity very quickly - if there's a permit mistake, legal loophole, engineering inaccuracy, fire regs many things can cause the building to be torn down - razing a building to the ground costs a lot of money.These are just some of the issues obviously there are many more and having prior experience and knowledge are very important at this scale.Another point I wanted to mention too is that predicting for appreciation is not the same as predicting for an increase in price so be wary of inflated or misleading price predictions - inflation and it's commensurate effect on value can have a house or apartment complex growing in price but not in value - the value of a property is not the same as it's price -remember that the value of the land is separate from the value of the structure on top of it - structure value ALWAYS depreciates from completion whereas land value normally appreciates so if prices are rising it does not necessarily mean that your structure value is increasing.Hope that helps.

If your buyer attorney creates the form then they can start off with it slanted more in their view to begin with but your cost to pay the attorney can rise more.

Rents/Leases in area: 1/1 - $1500-1800+, 2/2 - $2000-2500+Property Tax: $2200, Insurance: $2000Property Management: For now, would be me, but eventually would like to factor in Property Management feesRepairs: $20-30K (estimate)Area: good schools (8/10), walkable to grocery stores/restaurants, lots of development in area (MFU, new community of townhomes being built nearby)Cash flow calculator: Break even or slightly under (would make more sense if able to add 3rd unit)Buy and hold idea: renovate, maybe add another unit down the line, sell with big assumption property value continues to significantly rise in areaThank you for your input!

I have never purchase a NNN Leased property so my concern is that if the tenant does not renew after the 5 years I would be stuck with a property that I overpaid for due to the inflation cause by the NNN lease.