As a pure investment, I don't love condos (my first investment was a condo).

A 100 unit building needs meters, anything less is purely stupid.

There is more that goes into these decisions than pure financials sometimes.

So someone who is looking purely to maximize potential return (and has unlimited time) is unlikely to find this a good fit.2) Those sponsors you listed: Every investor comes from a different risk tolerance, financial situation has different financial goals.

Do keep in mind, we are not approaching this from a purely investment standpoint.

I’m looking at a simple point-in-time matrix based purely on cash flow return.

What does $10 per unit mean for 388 units=  $10 x 12 months x 388 units= $46,560 additional revenue with no added cost, other than sending out a notification letter.So, $46,560 more revenue and pure cash flow. 

And yes, music and basketball bring me joy :)I'm at the beginning stages and am looking to purchase my first investment property.

The published cap should be used purely as a guideline, whereas the final determination could vary. 

Are you living in it or is it a pure investment property?