That's crazy, your PMC must be a Class A company employing engineers to paint and doctors to clean!!!!

Without going into too much detail, the syndicator listed it like this (two options):--Class A income investors: 10% Preferred return / CoC (no upside)--Class B growth investors 7% pref; 8.2% CoC; 20% AAR; 16.5 IRR(5 year hold target)

That is, what are similar type, size, age, class, properties selling for within a 3 miles radius?

We own B/C class houses and stabilize them after we purchase.

However each asset class require a learning curve. 

Still curious to know what people's investment experiences have been in this environment.

If you're dealing with a higher class of tenant, maybe you'd give them more time.

So, if term leases are required, you may be trading one problem for another if MTM is your business model based on class/region.

The main areas of concern should be the tenant class, which is difficult to deal with and the city permit office also less than stellar to deal with.

It does seem to me like the Deep South is a difficult environment but I'm sure there's a method.