I have no clue if this is actually true or not but this is what we were told.

Also,  my realtor is recommend down more so I can avoid a lot of fees, but from what I read, it is better to down as low as possible so we can get better Return on Investment,.... is that true ?

I came to know in general Memphis city above 40% to 60% vacancy on average in apartment properties I hope it’s not true Any reason for such high vacancies?

. :) This statement is not true.

While it's true that hotels pay more, we don't own/manage multiple properties.

And GC fee typically runs about $100K(flat fee + markups from subs) from what I have heard. so the true cost of building that $1.3 million framed house is like $500K.

This is true even if you do not have a forwarding address for the tenant--in which case you mail it to the premises. 

That's true...until it's not.

Don't put them in certain class of neighborhoods (unless #1 and/or #3 are true).

The real estate agent actually told us that he was terminally ill - which we (my wife and me) later found out was not true.