The numbers are inflated to show worse case scenario for the most part.  

The property manager seems to have falsified repairs, inflated invoices, and possibly rented apartments without leases and pocketed the proceeds.

Straight cash flow in the area is challenging on MLS if you're not finding better deals off market since everything is so inflated here.

Some people have plenty of money and want an inflation hedge.

If you, instead, do what most investors do and deploy the cash the fempto-second you get it because it "is not working" or is "idle" and you'd lose money in real terms through inflation erosion you'd lose the ability to defer profits and they'd be taxed at the higher rate.   

I've been tempted and searching for the past several years for viable investments in other geographic regions but have always decided against it because I've never felt comfortable investing capital in something I have no direct control over.Just my 3 cents worth adjusted for inflation.

If you look back in history when we inflated the market with printed phony dollars, it has always been followed by a huge period of time of real estate inflation of price.

Thanks @John Horner for asking the question - it is a subject that should be discussed a lot more in the "am I ready to quit my job" space.Being an Austrian export who lives in the US since 2008 I can tell you the cost of health care in the US is inflated absolutley out of proportion compared to what I have seen in Europe.

Like two agents, for example, to see if one is over inflating the numbers.Don't jump into a big project or multiple projects.

No way I would pay inflated prices to develop.