Hey @Katherine Lewis, I have always felt this was a tougher row to hoe overall.It's not that it couldn't work, but the juice might not be worth the squeeze.If you go all in you have to do it for the long haul.

I'm from Long Island, NY starting my journey in Real Estate.   

I actually joined Bigger Pockets a long time ago but haven't been around for a long time.

I do ground-up urban infill multifamily development and we are effectively at standstill as far as new projects go.  

We are based in Memphis and happy to provide any insight or feedback. 

How long have you been working in the industry?

Quote from @Marc Zak: In the market where I live (San Diego), appreciation has been strong and many predict it will continue to appreciate in the long term.However, with current interest rates (6% at best) and property tax (2%), the annual cost burden is 8%.Am I correct in saying that appreciation has to be above 8% annually (plus whatever my maintenance and vacancy costs are) for me to make any money in this scenario if the property is cash flow neutral?

Each grouping had a common room (perhaps it was shared by multiple groupings ... this was a detail I missed) with a nurses/aid workers office.Central to the two sides of the complex were common facilities such as a dining hall, gym {perhaps a pool ... another detail I missed}, theatre &  games room.With one of the fastest growing groups in our society being single people, we are examining a related idea of a  complex / building providing a modest-sized 1-bdroom "apartment" with more semi-private and common amenities.When I read the title to your thread, I thought it was a project proposing to mix students and seniors into a single complex ... and came in thinking, this ought to be interesting :-) 

another property to the portfolio, and a continued relationship with a live long client Lessons learned?

It’s worth mentioning that we have been working with same investor for four years and we are fully delegated with them.