Has some major flaws.

I agree - plenty of affordable housing but you are not going to find it in a major city or a very desirable area.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Now how do they pay a 12% return if the majority of the parks are not profitable?

This removes a major leverage point in enforcing the contract.The contract verbiage looks really sticky.

Lost the major city and maybe the state.

Seems like when some of these sell, they need major capex. 

None of the major institutions have come close really.

And THAT is the major point of the discussion.

It is one of the ingredients you need to take seriously no matter what kind of marketing you do!