I guess it's like apples risk vs. oranges risk: recently-built apartment complexes are apples and involve risk (the construction defects, the stress Class A experiences during an economic downturn, etc.) and value-add/renovation type business plans involve oranges risk: you won't probably see any construction defects, but you have more vulnerability that the renovation plan + improved operations plan + repositioning will not work as optimally as originally hoped. 

I always encourage "kicking the tires" comparing options and "Apple to Apples". 

They’re also magnets for thieves and vandals.

Apple and google creating more jobs there is interesting to me, as I remember when Seattle was still "affordable."

I was actually driving for apples, you know, just looking for run down apple trees, pies in the windows, all the usual signs.   

Like any other venture, you will encounter throughout your life; a few bad apples will ruin it for the whole bunch. 

This helps people compare apples to apples from different lenders.

That's like comparing apples to French Fries. 

Does a PPL electric bill attach to the property and covey to the purchase at an upset tax sale? 

In my opinion, you're comparing apples to oranges here.