And the comps in the area supported a strong ARV, so it just made sense to jump on it!

Your thinking makes sense and is what I would expect as well.

Depending on what the interest rates are and if you can get a discount on new vs. used it may make sense but most likely not. 

Still, it makes sense because oftentimes some of the rents have never been raised for years, and those NW side neighborhoods have increased rent dramatically! 

It's a great way to give them a better sense of the space, especially if they're on the fence about booking.

If you read some of my previous posts, you'll get a sense of what I'm talking about.

@Mark CruseWell, most of what you is somewhat common sense.

Here's how I do my due diligence:1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where I think we are in the real estate cycles (financial and physical market cycles)b) Then and only then do I pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

Things to think about.I hope all that made sense!

@William Haynes Very well said and makes a lot of sense.