@David Dachtera, I did the same exercise in a COBOL class ;)

In a market like KC your $300,000 would get you a $1.2mm purcahse which would be 10-15 units depending on the class and location (could be a bit more or a bit less).

You have to talk to the sponsor to find out the details on each particular deal. 1b) And the asset class matters too. 

Buildings are old and mostly C class and newer and in B class are substantially higher in price and not much cash flow but appreciate more. 

Are you looking D, C, B or A class tenants/ market/ property? 

I had a duplex in Hilltop that was doing well for me and sold it 2 years later to do my first 1031 into a Hilliard duplex because it was part of my investment strategy (invest in C class with a 2-5 year exit strategy and 1031 into a better asset class).

If you want to explore MF or any other asset class, the best course is to go to some training courses and get a coach or mentor. 

Hey @Eric Chappell  You've absolutely nailed it - "class tracking" or the equivalent somewhere else is usually a top dollar feature.

I am speaking from mentors/classes in general.

@Joy McQuearyRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?