In my areas (Chicago/Milwaukee) it is a dense urban environment where it is common for A/B tenants to rent an apartment. 

Forgetting that it can take a well established team with a lot of experience to actually make a great investment property strive in this environment. 

I like this, especially in the current environment.

The no-code building seems like it would decrease the time to stand a bot up in someones environment. 

It is possible the deal will meet the 8% in following years based on rent growth, but you should see that from the sponsor's cash flow projections.Also, take note that the debt service amount you provided works out to a 4.25% interest rate at a 25-yr amortization - which is low in today's rate environment and could be 1-2% too low based on the expected timeframe for the refi.

Given your experience with using a HELOC once, is there anything you'd handle differently, especially since we're in a different market and economic environment?

This diversity helps to insulate the city's real estate market from downturns in any one industry.Pro-Business Environment: Kansas City has a pro-business environment with low taxes and business-friendly policies.

It’s a difficult market environment, especially when you have the sort of wealth that we have in this area buying up everything decent.

When researching markets, research landlord tenant laws, what is the political/regulation environment?  

I think the hesitancy for me is not jumping in because the analysis I’ve done so far + changes in macro environment doesn’t make it appealing to invest in Charlotte.