And it's worked for generations and the wealthy for a very long time because mutual insurance companies understand the human lifecycle quite well (law of large numbers), they're well regulated, make safe and sound investments and in several cases have paid out dividends consecutively for over 150 years (Mass Mutual, Lafayette Life, etc).

Hi Stuart - My investments (primarily multifamily dwellings) are just outside of Temple's student housing zone, near Girard.

Conversely, I want to take that money and drop it on a Single-Family Dwelling in New Jersey (where I currently live) and then rent it out. 

I have additional space on the lot where I think that I could build an additional duplex or maybe two small single family dwellings.

Most people will not qualify for this, Fannie multifamily is simply not an option for someone new to this asset class.Bank - This is a Texas headquartered bank. 25 year amortization isn't the sexiest, but that's a human-attainable interest rate with very modest points/fees, with a short prepayment penalty.

Not only that, most of the "GPs" had been working in Tech their whole careers and had only been into real estate the past couple of years.Don't get me wrong, we have a lot of very smart passive tech-industry LPs, but you want a vertically integrated machine of humans with deep real estate experience.

Sometimes those programs only allow for single family dwellings. 

We are all human beings so being humble and trying to work with people often seems easier than creating conflict.

The other comments on this thread may be correct for their part of the country, but in Chicago, you need to abide by the RLTO which states  "(h) "Rental agreement" means all written or oral agreements embodying the terms and conditions concerning the use and occupancy of a dwelling unit by a tenant." 

This book caused a big paradigm shift in how I view human error and mistakes by humans entirely!