And since they find you, not you find them, the tables have turned.

I can't find a table that shows just urban growth, but anecdotally I think the areas closer to downtown are experiencing more rapid growth. 

You will make it a LOT faster if you just go serve tables for 6 months, save up some cash and THEN start investing.You will succeed WAY faster then a counter partner that dives in immediately without a system and knocks on doors.Ask the community.

Scientists have found certain areas to leach to the water table in a very short time frame, with soil entirely inadequate to filter the chemicals, resulting in a currently poisoned water table in some areas of the world already.You mentioned decisions being made by people not competent to do so, and I'll add they have ulterior motives that often don't account for such consequences.

Any banks/lenders offering unique incentivesI am looking at a conventional mortgage, 20% down, great credit

Second, what is important to bring to the table?

This would be letters and postcards.I think it's unique and memorable.

My business partner and I are both newbies, but he can bring substantial funds to the table such that buying a larger apartment complex could be possible (upwards of a $1MM purchase price).

I think the STL market is unique in that it's full of all these sub-markets (CWE, Soulard, etc...).

So it behaves in its own unique ways.