Until inventory comes back on the market there will continue to be tremendous upward pressure on prices as demand outstrips supply.

Not sure I want to go LPA supply due to fact that there may be non-US investment, unless there is a benefit?

This strategy satisfies a GREAT demand while being in limited supply (and when you have an in-demand product in limited supply, you get to dictate the price)3.

The other hard money lender could supply 100% of the transaction, while asking for zero fees upfront, but the loan has to be paid back in less than two years.Similar scenarios could be given for conventional lenders.

If there is a short supply of rentals available in the neighborhood of the property, get it.

The idea that an individual investor can just step in and by a single property and get some smoking deal on it.. is really not reality in a major metro area with experience and well funded competition.

My guess is rarely which could be an advantage if the demand is higher than the supply, but  a local realtor would be able to give you a sense of the market. 

My unit shows no sign of fire, smoke or water damage.Even though I don't own any of the fire damaged units, do I have any property rights since I have a unit that is directly attached to them?  

This can be structured in a number of ways, such as: Both partners split funding and pay cashOne parter supplies all the funding needed and purchase the property for cash, the other manages/does repairsOne partner supplies the down payment, the other supplies the ability to get a mortgageBoth partners supply the down payment, but one partner gets the mortgageThere are numerous ways to structure a deal like this but be sure to advise your client to seek legal assistance when setting up the structure for the partnership.

My issues were cigarette smoke.