The difference is the volatility of owning multiple units versus a single house is usually a lot lower.

As the Treasury continues to issue new bonds to fund Congress’ tremendous appetite for government spending, we should continue to see volatility in the bond market, and by extension, mortgage rates.

Most reports say, given affordability constraints and overall market volatility, renters are staying put for much longer periods of time, reducing turnover.

Having cash flow in this market is kind of difficult to expect, you should aim at best to break even and if you don't have the cash on hand to handle the short-term volatility then don't invest in real estate.

Check with them if they're using operating partner and/or integrated partner, sometimes stupid issue like property manager can destroy potential investment as well.If you can read company balance sheet or 10K/10Q report, then you may dig dive easily into reading T12.Every Joe during good year can deliver 12% IRR ; but I told you, if you buy duplex on the same year with them, due to long term financing and hgher appreciation of residential asset, you could make 20% IRR above.If you really want syndication, find syndication in industrial space with good sponsor, the volatility in this space is much lower than MF and usually the sponsor is very experienced as well. you can start educating yourself from Aleksey LP education that I shared before, there're few sections there that maybe coming from my idea as well.

All of your characterizations of Tulsa area are correct (stable appreciation, not volatile, good cash flow, etc.). 

Consistent demand.I will add that’s a metro wide number, the actual city has been much more volatile, there were years the city grew high single digits, I think maybe even double digits one year.

Use it for a Down Payment on a $4,000,000 Property:Pros: Leverage, Diversification, Potential AppreciationCons: Larger Debt, Market Volatility, Higher Expenses3.

In a volatile interest rate environment the cap rates have significant lag time in reflecting the interest rate at which the property can secure.

Speculation is always a key element as well, you cannot be afraid to go for the B/C neighborhood when the marketplace such as the bay area, is so volatile.