Sean Breslin, EVP at Avalon Bay (one of the large apartment REITS) who was also on the call said that one dynamic that they really look at when selecting markets is job growth vs. new supply and sure enough M&M Research had a slide on that too: The rule of thumb that you hear from the institutional guys is that on average it takes about 5 new jobs to fill a new unit.

These esoteric 2%, 50% rules...

I used to write everything down on scraps, then I graduated to ruled paper.

Those that have broken this rule (now up to 6 after seven events over a 3 year period) are never allowed back.

Using the 50% rule?

Those can be ruled unenforceable.

If there isn't anything about a deed restriction, like not being able to resell for 30, 60, or 90 (or sometimes more) days then you can probably double close without any issues.If there is a restriction then you can still usually sell it just for some capped amount (I think usually 20%) more than you paid.If you can carry it then you can also wait out the restriction as well.This should be fairly explicit in the documents and if not then there shouldn't be any issues double closing.

Is there a reason you are ruling out conventional lending?

Make sure you are familiar w/ all of the rules IRT condo conversion in your area.

Usually the insurance restrictions include wording like "a mix of any of the listed breeds".