I merely made mention of some of the challenges I faced, but those challenges cannot be overstated either.

Did I mention they also factor ongoing rent increases of 6% for the next 5 years and 7% appreciation for the next 5 years.

Albert in his comment above already mentioned what's going on.

Since you are not doing super high end finishes as mentioned, doing high end flooring and all other stuff just above builder grade does not warrant tile or full wood flooring. 

I don't know how the really big players stomach it.Something else I failed to mention was how the PM's are also tacking on fees on top of rent to extract even more money from our tenants. 

I like how Nathan mentioned that most social media stuff is inflated.

Brian also mentioned, him and Ron were renovating houses on a large scale and had been building a foundation for massive traction in the workforce and affordable housing market in the Mid Atlantic (my friend Brian is an active real estate investor and GSP’s lead project/property manager).

Not to mention sky-high drama factor.

Like @Charles LeMaireand @Justin Kane mentioned Joe Fairless and @Theo Hicks have a great book that goes over every step of the process on how to become an apartment syndicator.Are you looking for a more active or passive approach?

I will continue looking into the areas you mentioned and appreciate your insights.