Let’s look at the impact those last two have had on the time it takes to deliver a new home (or apartment building).Stages in New Home ConstructionApplication for Construction PermitPermit Approval (2–12 months after application depending on where/what you want to build)Start (2.8 months after approval for MF, 1.3 months after approval for SFH)Under ConstructionCompletion (17 months after start for MF, 8.3 months after start for SFH)What does this mean?

Lots of lofts and apartment complexes with quality tenants.

Worse case it could be converted to regular apartments.

A lot of active apartment syndicators on BP also have their one consulting programs.

These are smaller 650 Sq ft 1 bed and studio size apartments.

Not a fan of D.C. multi family right now prices are high with rates very hard to cash flow and unless you are playing in the 1.5mil+ you are in at best borderline neighborhood’s & also competing against a ton of newer apartments in most cases.

When I managed properties the owner would regularly call me in his office.... why did we spend $1/sqft to paint this apartment, why did we replace a fridge, what does it cost $2500 to do a simple make-ready on a 1 bedroom luxury apartment?

This is a four apartment rental property. 

I've been a part time RE investor for about 10 years.

I still have one of my two apartment vacant but the neighborhood that I am in probably has more to do with that than the Pm company.