Louis.It’s actually a pretty sweet deal: close military family who take pride in executing the mission while looking out for each other; relatively close to several major cities (St Louis, Chicago, Nashville, Memphis), but far enough away to avoid the hustle and bustle; easy access to many outdoor activities; growing tech industry, close to five excellent transportation routes (the Missouri and Mississippi Rivers, and I-70, I-64, I-55); and an exciting baseball team (I’ve drank the Kool-aide and am now a solid Cardinals fan).Talk about Location!

Quantifying it with a level or saying low/high would relate it to a property which has more than one occupant which can include office, retail, mixed use, light industrial, etc not just multifamily.  

Next to a university, a hospital, a new headquarters, a new oil industry expansion....

Is this something new in the industry?

Talk to your lawyer about your specific situation but generally the jurisdiction of your fund will be a natural result of the structure you choose and where you and your investors are located (in some industries it might be focused on a global hot spot for the industry).  

The bigger focus from my viewpoint should be the general health of the job base and trends in those industries.  

@James Wise   beat me to it... frustrating for the industry ...

I do not regret one penny spent toward my industry education and consider it as an investment in the future of my company.

Two-and-a-half years into the U.S. housing recovery, the real-estate industry is rolling out new ways for individuals to invest in the property market.Brokers, property managers and others are helping buyers purchase houses in distant cities and manage them as rentals for a fee.

Because of that, we don't get the mass production capabilities like the auto industry that can drive down costs.