Who is this through and what market are you in if you don't mind me asking!?

But with the ability for sponsors to buydown floating rate caps for the next 3 yrs, it is up to you if you believe their marketing.  

it's a good, but tough, market to invest in.

The office market may be nearing a turning point.

Huntsville, Alabama, is rapidly emerging as a top real estate market in the South, driven by its growing population, strong economy, and affordable housing options.

Look at their marketing strategy.

In this market that's hard to find cash flow, I'd offer to look into a live-in-flip to get your feet wet & a solid understanding of rehab costs. 

If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking5.

Obviously, the burbs out past 465 can be good appreciation markets. 

Every time we build a new home, we add more supply to the market.