This will enable them to manage a PM when they reach that level of doors.

I will lever it lightly with assumable debt, or not at all, and keep this conservatism going until cap rates are ~100bps above interest rates on property of reasonable quality and nearby where I live and operate my business.If that happens next year, I’ll cash out refi to a moderate debt level and buy!

You have no real control over macro economic issues over the long term, which will have a higher level of impact on your building value.  

They put levels on the pad and check to see if there are any noticeable water entry points.

I have also purchased training from Attorneys and CPA focused on real estate.I also learned that Renatus is more like multi level marketing where you are then asked to sell this education to other people to recover your cost.

Tenant in lower level unit #A will be billed based off of 900 total square footage, of each bill.

Managing a multi-unit property can be more complex, so consider your level of involvement.Have you received any offers for a lower down payment than 25%?

You make such a good point about concentrating on paint, trim, doors, etc …I do this all the time with my rentals - I build to a level I’d want if I was living there, not necessarily what the rent could justify in finishes.I’ve got some issues that are far more important to tackle before the luxury fliers I might take.  

What's your experience level managing large-scale multifamily?

So It looks like it was simply lower level employees with lack of knowlege.