Why is the rent so suppressed for all those units right now?

The time to get a large ground suppression there is extensive (it is ~45 minutes from a decent size town). 

But I think savvy investors will be able to navigate those laws to take advantage of artificially suppressed competition to do well. 

Work with your attorney for what is needed to insure all subcontractors get paid by the General Contractor.Make sure the insurance covers Construction period and also materials.Talk with your Commerical insurance agent and they should address the above questions with you.If this is an older facility make sure your engineering firm has covered Fire Suppression systems and any Storm pond or drainage systems. 

If we bite off people’s heads when they admit disaster, it suppresses legitimate issues with these techniques.Just for context there is a lot of history with the OP and some of us on here going back years (like the thread I linked to above from about a year ago and several others if you use the search function with his name) with him minimizing the risks of how he was structuring these transactions and some of us being cautionary, warning him that exactly what happened here could happen, which made him defensive and dismissive. 

They were selling on pro forma, but the market and the debt market have shifted, and it's aa lot harder to achieve higher pricing with lower rents.We've purchased over 2,000 units, and the simple answer to the question is that they are either mom and pops and run their businesses with ZERO KPIs, they do not want to risk losing tenants if they raise rents, and they don't treat their asset as a business.When you take over, it can be difficult to get rents to market if they are very suppressed.

Those landlords that choose to artificially subsidize communities via suppressed lot rents do not generate sufficient reserves to set aside for inevitable capital improvements to the community’s infrastructure and aesthetics.

You disregard the suppression of economic activity caused by universal tariffs.

His attempt at suppression has failed and the video has been restored. link? 

Illegal labor suppresses wages, supply and demand.