I agree with the closer to the metro the more expensive a property is, but also provides more opportunity.  

@Jonathan Baptiste cool story glad you learned a lot.Now, multiply all that by 300+ tenants and you'll know what the average PMC has to deal with!

So, to the chagrin of some developers it can get a little expensive at times but on the flip side of that coin it provides kind of a firewall so that what ever is being built is being built with a strong intention.

Per this NY Times article, the average American knows around 600 people.https://www.nytimes.com/2013/02/19/science/the-average-american-knows-how-many-people.html#:~:text=The%20average%20American%20knows%20about,do%20you%20know%20named%20Kevin%3FPer the US Census Bureau, the average American moves 11.7 time in their life, which based upon an approximate lifespan of 84 years, works out to be about every 7 years.https://www.census.gov/topics/population/migration/guidance/calculating-migration-expectancy.html#:~:text=Using%202007%20ACS%20data%2C%20it,one%20move%20per%20single%20yearSo, if the average American knows 600 people and they each move about every 7 years, that means that the average American knows around 85 people that move in any given year.How many of those moves do you want to be involved in?

It's just one reason why turnovers are expensive.

Is anyone flipping in a market where this is "average"? 

Overcrowding can strain plumbing, electrical systems, and air conditioning, leading to expensive maintenance issues.

Flipping a brand new home likely wouldn’t bring much profit - especially after having to close twice when you first buy it, and later sell it.Maybe you have millions to spend and I’m just missing the big picture… but when I think of “income” I’m usually thinking “net income” after you factor in expenses, like purchase price or building costs?  

Real estate investing is forgiving; the average person can still make money even with some big mistakes.

I think the folks that pay for these programs have the wherewithal to simply cut a check and its no big expense to them compared to what they stand to get out of it.