Depending on the property configuration, I would take two different courses:  A) reconfigure the utilities - relocate hot water heater, shutoffs, etc. to be under your control or B) Negotiate with the adjoining owners to get a key. 

I would say that it's a good idea to be comfortable and in control of your finance/debts before moving into investment opportunities that are new or unfamiliar.

Don't take on a project that is out of your control and something that is difficult to budget for.

Any rent control?

I don't like DST's except in certain situations.The way they are constructed they are front loaded with fees and the passive investor doesn't control the exit.

You have no control.

Insurance, utilities, management fees, the cost to turn, how long it takes to turn, the cost to advertise, which ads work, foot traffic, closing ratios, trailing 12 months of operation, and then you need to know and have relationships with the top 3 controlling brokers in the market to find the best apartment stock within.Look, I am not trying to scare you here, but there are so many courses out there suggesting real estate is easy when, in truth, there is a lot to know.

Other than non recourse loans, looking for ways to get additional leverage from my SD IRA which I have checkbook control over through an LLC.

Though I suppose that still...that money isn't touchable until at least 59.5... but at least you'd have some control.

(I guess you also need to take into account the smaller discount you'd be giving them next year if you raise the rent slowly over multiple years).Also, thanks for the reminder that investments in most of the country don't have to consider rent control at all!