If you can build an environment that allows for 3 - 5 per year that is great. 

Improving energy efficiency not only helps the environment but also puts money back in your pocket.

Now, that's not the current lending environment but the point is still the same - what lending terms CAN you get?  

Hi, looking at a 6 unit multiplex in San Jose where rent increases are capped to 5% annually. 3 units have ~$500 below market rents which makes it hard to make the properties break even (esp in the current interest rate environment) even at 5.75% CAP.  

Given the current rate environment, and hot Charlotte market, I'm trying to think outside of the box.

It really depends where you are located and your particular environment / HOA etc. 

As well as some other business ventures, I am currently unemployed, trying to get a job in a real estate type of environment so I can gain some more experience.

Very different environments and markets in the bay area, northern CA, Palm Springs/ JT, LA, Orange County, Tahoe, Big Bear/ Arrowhead, San Diego, etc. 

Super difficult to do in a high interest rate environment when you're only putting 3.5% down.

In other words, will those people lose because they (inexperienced syndicators and over-eager/impatient investors) are chasing risk in an environment that is more conducive to being risk-off?