Additionally, Memphis has a strong rental market with steady demand, which is crucial for single-family and small multi-family investments.The city is also known for its diverse economy, including key sectors like transportation, healthcare, and education, which support job growth and, consequently, rental demand.

But city governments, schools, public libraries and first responders could face major budget shortfalls."

Freddie Mac & Fannie Mae multifamily loans essentially offer low rate, high leverage, non-recourse permanent financing options that are backed by the full faith and credit of the United States government.

There are insurers, re-insurers, as well as government policy etc etc that go into rates. 

For example, if a state enacts a law that prohibits individuals from having boats on their property, the state would then enforce that restriction.If the restrictive covenant governs an entire condominium building or a subdivision, they are enforceable by one or all of the property owners in that community.

However, I like the idea of the guaranteed rental income from the government.

. 😜2) Courtesy of your state government: A Practical Guide for Tenants & Landlords - Michigan Legislature

Single-family rental (SFR) and build-to-rent (BTR) properties have seen a surge in demand over the past five years, but the sector is now confronting a slowdown.

I contacted the government (province as they are in charge of this) to ask and was told that I didn't need to pay for the modifications. 

The money exchange between banks, that countries government and ours all will take a cut as well.