Or I land a resident manager position, which so far I have been unable to do so, and get a free or reduced cost apartment....Until I get my license all I have is seven years HOA board experience running the exterior of a twenty two unit complex, and the ability to speak three languages among other less valued skill sets. 

** (Provided that $2.732M IS good market value).If you can't get TWENTY SEVEN THOUSAND dollars rent per month by buying 3x $900k properties (or 6x $450k, or 12x $225k, or...), are you really trying? 

But I've also been investing for over twenty years and know the business.

You'll probably get tenants like me; young professionals in their twenties, maybe starting families, or students.

Twenty-five?

These are the only kind of transactions I've done for the last twenty years.

We have a pretty strict criteria about what we'll buy, and I typically want to see a COC in the twenties on solid properties in decent areas with conventional 30 year/20% down mortgages (which is obviously tough to find right now.)BUT a deal just came up near me for 45 units - asking price is 1.65M, stated NOI is "Over $200k" (but with the variations I've seen on what some commercial brokers count as expenses, I'm waiting on more information to get really deep into this analysis.

You can only have 6 rentals at a time, or ten at a time, or twenty at a time. 

To illustrate let's hop in Giovanni's time machine and go back twenty years; what would you buy?

They would have been in their twenties when they bought the home and they'll be pushing 90.