Each property comes with its own set of risks and every investor must understand those risks and do the minimum - get 3rd party inspections, 3rd party appraisals, verify rents, jobs  and crime rates at city-data.com - before buying.

Yesterday I reached several Fishers' City employees and a member of the Nickel Plate Review Committee none of whom had ever heard of Goodin Development. 

The longer the development cycle, the more risk on the LPs, the higher the return.

Look for sponsors that have been in the real estate industry thru several economic and market cycles.

STRs are a great way to make money, that's for sure...but it does not come without risk.

You can't get mutual aid (with a several hour ETA) in time to stop it.

I have several opportunities to snag up a self storage complex and a 18 unit apartment complex on creative financing .

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?

It's called investing, which implies risk.

I think you run a real risk of your second rental eating up the profits you're enjoying on the first one.