I've been a RE developer for nearly 20 years working in every asset class. 

@Zack Rosenbaum $400 for a 4 unit is crazy but not sure asset class.   

Brad:  Syndications are the #1 asset class for SDIRAs. 

You still need to avoid doing anything that makes it seem like you’re being discriminatory especially against protected classes.

@Chris Kittle make sure you understand the Class of the property, so you can use appropriate vacancy + tenant nonperformance percentages.We recommend:Class A 5%Class B 10%Class C 20%Of course, we base this on our Metro Detroit market, so you may want to validate for the market for this property.

Vintage year is also very important, is this a c-class property (which it sounds like it is, maybe c-), B-class etc. 

That means that all neighborhoods have some element of "D class", so even if you make your property "A class", it will be held back in appreciation.

Many lenders don't like to mix two different asset classes in a blanket loan. 

Focusing on B and C-class properties is a smart approach for multifamily investments, especially in a vibrant area like Austin.

I'm starting to notice that more investors (specifically Class C areas where one of my Indianapolis rentals is located) will advertise that "appliances and AC unit to be installed upon move in" for their rental or flip for the tenant or buyer.