If suddenly a 50,000 unit complex opened, without any public input, in the same neighborhood as all of your units, offering $50 rent and state-of-the-art facilities, would you feel that someone should come in and protect your investment by guaranteeing a minimum rent?

Exterior capital improvements are complete, except for a laundry facility we are planning to add. 

At least all the heloc's I have seen had this language.. does not mean you could not negotiate it out of the note.. but I would think that would be pretty tough to do as its buried in their boiler plate.this really came to roost for us in the GFC were I had large 5 million dollar plus Lines of Credit that were all on 1 year revolvers. which is standard for those types of facilities.. we used the money to buy foreclosures and flip them. 

We are also going to redo all the common areas and laundry facilities.

Probably can't go wrong in either area, though I'd say the Raleigh area is probably your safer investment as it's not really dependent on tourism at all compared to Orlando.If you want more cashflow you'll probably be better with parts of Raleigh or Durham, whereas Morrisville, Apex & Cary tend to be better with appreciation... but it does depend on location, and the particular deal.

This will get him and his wife the funds needed for a senior care facility for a year.

I set up a transnational facility for a wholesaler there that got in major trouble .. someone from LA turned him in to the state and they saw his website saw he did not own them..

For example, some people who get rich from an IPO spend it on the expensive homes and cars they could only dream about before the IPO.When I worked as a contractor at the chip company Broadcom, the technical publications manager would tell us some zinger stories every time she visited us at its Northern California facilities.

For all you more experienced RE investors out there, we recently bought a farm which includes a personal residence for our family, several improvements including large buildings and storage facilities for the farm, and the farmland itself. 

A syndication is very unlikely to have no debt).On the other hand, syndications allow most investors to access and diversify into asset classes that they would not be able to own on their own because the entry point is too high (ie, offices, mobile home parks, self storage facilities, larger multifamily etc.).