In Nashville, much of the new apartments are considered luxury, which do not compete directly, only indirectly, with my portfolio.

Because I have nearly 20 years in the Smokies, I have the luxury of knowing that market first hand.  

I have seen luxury rentals sell in the $2M range that generated over $275-300k but they move fast.

Some investment strategies don't offer such luxury but worth spending a little money up front confirming as that's something your LP's will ask or want to know has been thoroughly researched.  

The luxury SF rental market segment is much smaller than the apartment market, but you need to know how long it takes on average. 

Acquired over $5M in real estate - which includes the path of buying a duplex with my VA loan, a SFH 5 months later with a 1% down loan, a 4-plex with my VA loan 2 years later, built a custom dream home with an AirBnB suite, completed a horribly over budget BRRRR SFR, completed another SFR that went way over budget, sold my quad for a 4-unit office commercial space, sold my 4-plex for a luxury cabin in Oklahoma AND most recently bought a brand new home to use part time while visiting my girlfriend/future wife in Florida.All of this wouldn't have ever happened if my butt didn't get dumped.

That's even better from a lifestyle point of view because you can go to different properties every time, have a much bigger choice of properties and stay in properties that are much more luxurious than those you would be a co-owner in rather than be limited to the ones you own.Mind you, many people buy lifestyle properties overseas but that is because they want to stay regularly in their own house the decoration of which fits their taste and they feel at home, can leave their stuff there,...

I think I will have mostly weekend or long weekend stays and am planning to go all out on luxury targeting people in driving distance for stay-cations and splurge weekends so price point will be higher than most around which I am hoping will bridge the gap in higher occupancy. 

I mostly do resi working with both investors and luxury retail, and small MF which 5+ units as you know is technically commercial.

They also have much higher maximums than some private lenders, so if you are looking to take down a luxury property or even a medium sized multifamily deal quickly - these types of lenders can be a great resource.