While Treasuries are often viewed as "risk-free" investments, certain real estate deals in today’s market offer a compelling alternative—especially when purchased at a deep discount.Take, for example, a 1,000+ unit apartment complex in a suburb near Michigan.

if there's no major rehab, it usually means you can't buy it at a deep enough discount for a BRRRR to work. 

Insurance : This area of consideration deserves its own deep dive so we’ll briefly highlight key concerns. - The underinsured.

Dressers with a nice clean look that have deep drawers and smooth rollers are well over $1K and often close to $2K.

I ASSUME you’re talking $400+ in extra expenses for providing water, power, sewer, gas, internet, communal area cleaning, and exterior maintenance.

I am considering getting into this space (looking at some courses), but worried that its too late, and that deep local market knowledge/understanding of buyers/connection with developers etc is required to make this work, which only incumbent/long term investors will have and would be hard for a new entrant starting from scratch to catch-up...is my hypothesis valid in your opinion ?

No more messing around.If they get out without issue, fix and clean whatever was done and thank your lucky stars you got out with minimal problems.

Without a deep understanding of these elements, can you underwrite a deal via an algorithm ?

Trying to run a successful PMC is difficult but trying to run multiple companies - VR, Annual, cleaning, and landscaping is probably going to give you an aneurism.

The property was being lived in....of course it could use a refresh which we also agreed to do a deep clean for you....fact of the matter is is that you chose to walk away from our agreement prematurely and ended up having to go about it on your own.