You may need to consider other elements like overall management with this company. The fact that they buy properties at the high point in a market (mid 07) at a cap rates around 4 and sell at the low point right now at cap rates in the 7 says a lot about their strategy, or lack of one. They also threw over $30K a door to renovate a class A property to a class A, interesting. Simple math can say that won't work or over a very long time. An insider once told me if you ever want to know how to invest in real estate just look at Post, see what they are doing and do the opposite.