I have a few brand new homes popping out of the ground in Canby Oregon.. msut of Portland proper is very old the new builds tend to be skinnies or expensive . 

The analysis also reports that new multifamily development will “remain near the average recorded over the past five years”.Integra Realty Resources’ 2017 Commercial Real Estate Trends Report ranks Pittsburgh #2 on its Top Markets by Multifamily Transaction Volume Based on YoY Change.Pittsburgh’s rental vacancy rate has declined by 25% over the last five years.Pittsburgh is booming with developments (see reference #6), “there is no better place to be a developer right now than in Pittsburgh.

Even with 100% of funding, who gets to make expense and design decisions?

It's a small place so I'd guess it won't rent for enough to cover your expenses anyway so I'd probably sell, especially if the loss is small, it unless it's in a great neighborhood that you think will do well over time. 

Milwaukee is still one of the hottest markets in the US, we see on average offers at 102% of list price, so understanding fair market value is key.And then of course you have the fact that most deals are negotiated by agents.

After every negotiation, reflect on what went well and what could be improved.Negotiation isn’t about “winning” at the expense of the other party—it’s about finding common ground where both sides feel satisfied.

Here's an example why:- One of our people made a mistake last year, and entered an expense of $1500 instead of $150 - they accidently typed an extra "0". - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio. 

Operating is where you collect the rents and pay expenses.

You want access to equity but you also want access to the full profits without safrificing it to expenses to expand your business.

They are too much of a gimmick and most tenants prefer to have the bottom-line expenses.