I think the math should scale (i.e. for ~$2M I should be getting >12 bedrooms minimum).Does anyone have experiencing owning investment properties near UofM central campus, and/or as a property manager, that can comment on how the rental market has been for the past decade plus (stability, concerns, etc.)? 

Quote from @Andrew Steffens: There are probably more experienced people on this type strategy who will hopefully chime in. 

I'm really hoping to make some connections and work with and learn from more experienced investors in the community.

Real estate agents tend to want to make a sale and they are not as experienced with the rental market as they are the sales market.

I would get more details on the numbers and go through it with an experienced investor. 23% expense ratio is laughable for any apartment building, let alone an old class c product.

This would be 2 days before he announced in his June 20th email (which I believe you have) that he was suspending payments to hundreds of investors because of financial problems.He did not disclose anywhere in the webinar (48 hours before the email) the difficulties that his business was experiencing which was laid out in the email 2 days later.

One of the reasons i chose ReSimpli was because I called one of the other companies I had narrowed my CRM down to (will withhold the name of the company) and they had one of the worst support teams I have ever experienced.

HMLs are a higher risk loan product that are meant for experienced investors although many will still lend to new investors.

Moreover, for someone in your position just starting, it's best advised to partner with an experienced individual to mitigate risk and adequately learn the process.

If you were more experienced, I would consider shuffling the portfolio and being aggressive, but I don't feel you are there yet.