I work a similar area I'm doing well, I adapted.  

I once worked in a town that had unmetered water service, just a flat rate.

.You are right, we need to adapt fast and learn every day.

The nature of the business has changed so much over the past 8 years since I started, that only those who are smart and savy enough (and well capitalized) to adapt and change to evolving market conditions are still around (and those that have treated their clients with their clients interest in front of their own).  

As to the servicing issues above, a servicer can keep the accounting separate in house, servicing isn't an account based matter as much as on a per note holder basis, just speak to the servicer, I'm sure they are adapt to loans held in tax deferred accounts. :)      

Since property value of MF is determined by NOI and CAP rates, there are three ways to affect property price: Revenue, Expenses, and CAP negotiations.Specifically in the 20-100 unit space, if we define market as avera...

There are no universal rule of thumbs, but they are adaptable to the risk in your market and the leverage that you're using.

Do you enjoy what investors do enough to keep learning and adapting in that field and market?

It's the ability to adapt to the different market conditions.

So it's definitely outdated - but would you call a business owner who doesn't adapt his business to changing environments lazy?