Pent up  demand is a farce, you want to rationalize what is legitimate demand. 

How much time / cash / other are each individual expected to contribute?

two things I have learned.  1,200 is a sweet spot for demand, and if you do have a large unit of 2,500 get a couple of them zoned for auto. 

MFDUs in high-demand areas like Asheville might be limited, but it’s worth keeping an eye out for smaller duplexes or triplexes that align with your budget.If neither works, continuing to rent while buying a pure investment property in a more affordable nearby market could make sense.

One thing I think I would do is either hire a professional market research company and/or get a local high school or college marketing class to do market research and surveys to see if there is interest and demand. 

@Eamon Conheady - was the other lender a company or a private individual? 

I have used LLCs individually for the properties that I've owned and I'm glad I did. 

I guess my challenge right now is to define the strategy and balance all the factors, such as job and population growth (value increase), cashflow (demand & supply market, interest rate, property tax, maintenance cost), and risk control (insurance etc). 

BUT, then you want those landlords to judge every single tenant individually and not lump them all together with the ones that lie, cheat, steal, and destroy the property on purpose?

One of the features I like from Pipedrive is that you can add multiple properties to an individual.