Is it worth the effort to build another 12 units on the same property in this market?  

This is not entirely a reflection of any group, as market cycles happen. 

Has the wealth manager been able to generate a higher return compared to a complete stock market ETF?

I work out of (and invest in) the Greater Pittsburgh Market.

After being a landlord of 4 doors for years, my wife and I decided on selling our property in the insanely hot Colorado market, and we set out on a road trip to find our new home.

yes, this requires some math - but that's your actual capex.  3% a year probably won't cut it.and - i don't know this market, but i'm skeptical that something turnkey will actually cashflow $600-900 a month. 

Nothing has been on market for more than 45 days within a mile of campus. 

Because of common marketing strategies by the industry, their expectation is that a lender will provide a loan at 70%-80% of the value of the asset after its been repaired, upfront.

I like your pro #6 comment of using arrived to explore a new market, as I was thinking the same thing.

They already did a small capital call on 1 of the investments prior to all the craziness in the market.