However, I would encourage you to build a custom model to reinforce the basics of underwriting and forces your to understand the big picture + granular details behind the "Why". 

Makes the case again for the chimney vented models based on what i call "Russian technology".

I have always enjoyed playing the long-term game, so this is just another business model I can be passionate about. 

Do not change your business model to fit their needs.

I am being very conservative with any financing options since I am operating under the assumption that WA will get statewide rent control similar to oregon and CA  (7% + CPI) -  My Model has been to buy functional but needing maintenance-and-upgrade properties and then update them over a few years,  so I can probably work within that framework.   

His advise was that the return on investment to buy land and build from scratch in a B-grade area would far outweigh what's out there currently.This isn't really my area of expertise.

Can anyone point me to a resource to model?

Also for those reading the threads the recommendation for Scott Carson should be struck out .. turned out his JV model ended up not so well.  

I would consider other towns in that area like Mystic, North Stonington, Pawkatuck , Easy Lyme and Niantic if you can find properties that support your model. 

Following the thread - any recommendations on brand or model?