If they are under supplied then you will draw them.  

Labor, supply chain (we are on an island) and red tape: from offers and closing, to funding to permits.  

IMO, the best strategy for that type of individual is to purchase residential property in an area they are or can become familiar with; in an area where the neighborhood is “on the rise”, typically where demand exceeds supply and people are spending $$$ on fixing up properties.  

I just did a quick search of the area and there appears to be an ample supply of properties with an average rent of approximately $1.10/SF.

Combined with increasing supply, what could this reasonably do to MF market and syndications near term, ie next 1-2 years? 

You'll need documentation of the cost to replace, hopefully, pictures from your cleaning team before their arrival, an owner's closet with lock for supplies, and limit the number of supplies you provide to a determined number.

I can't tell the future, I just will tell you markets behave when supply and demand are close(r) to be met.

Then you'll have to supply a lot of expensive wood for that fireplace and the outside fire pit. 

The power company supplied and installed the new meters (at no charge, at least not yet) and verified all the work around the 4 gang meter pan was done up to their standards.

Hi Jemini, I would start by doing research in the markets you're interested in to see what the rents vs. purchase prices are along with looking at the supply and demand of the market.