An observation: $330 rent is very low per unit rent, and it looks like utilities are included in the rent.

They are only required to disclose material facts that are obviously wrong by visual observation and if it's rented out the broker may not have set foot inside.

What have you gathered so far from observing? 

Carl,I'll add one more observation, assuming you are interested in passive investing, crowd funding is one way to do it but don't overlook syndication and direct relationship you can get w/a deal sponsor and the learning that can provide you to be a better investor going forward.  

Sometimes you just have to do things to make tenants happier. keep in mind that the leaving tenant is not expecting to be rewarded for reporting issues, they expect to be charged for them so it is on you to be observant.

Observation windows overlook each floor so mothers can study or eat or talk while they watch the kids in the center.

Again, I am not well connected with the RE community, but my observation is that there is a lot of information out there that suggests that you must take on a lot of risk to be successful.

I think the observations you've gathered in your research are valid.

I have no experience with doing subject too but maybe I can be helpful with this observation.

Keith observation is of course realistic but focus and passion can overcome everything.