I have one item to add for consideration:  Will falling gas prices spur the up to this time absent Millennials to take the plunge into home ownership in 2015?

All of which are frequented by Millennials and young professionals. 

I am puzzled at these new builds marketing to millennials with a $400k+ starting price point.  

@Ravi Dehar Cozy sounds great, and I personally believe that the ability for landlords and property mangers to offer electronic transactions will become crucial with the new Millennial Generation.

I actually have several doctors, attorneys, and even one nationally syndicated radio personality that rents from us... but I don't expect most of these to be long term tenants.The biggest trend that I see today is the Millennial Generation.

I think some of the "trend" stuff we see is short to mid term (for example, I won't believe in the whole, "Millennials hate the suburbs and the suburbs are dead" thing until those Millenials pay down their student debt, have kids, and STILL choose to live in the cities.)

On top of that, new household formation is growing again since the recession of 2009 and millennials are moving out of mom and dad's basement and becoming renters.

Interesting article on Yahoo Finance:http://finance.yahoo.com/news/turnkey-properties-millennial-investment-131500792.html 

I guess the millennials are starting to leave their parents' home but still can not afford a house so they end up in apartments :-) The market cap rates for B/C apartments are about consistent with  your findings.

That being said don't sell out the "millennial" generation just yet.