All, I was approached by GEG way back in 2013/14 (still have the Offering Memos). I didn't buy as the product seemed quite high priced for the markets, their "proposed" (never saw rental agreements for "actual") rental rates were also high (hence the lowering over the years, when it should remain stable or go up). Their Annual Income didn't add up to the Rent*12 on their sheets, and didn't include Condo Association Fees. Seemed like they were selling properties they were "flipping" and financing. Well, it's been 5 years, and I checked those same properties (2 of 4 areas/properties, Bridges and Timberwoods), and they are worth FAR less than they were being sold for, when most property went up, so selling in 5-6 years would NOT have made $$, but would have lost. As with Buy & Hold, you should have a Positive Cash Flow (specially with 50% down) and Build Equity (or try to pay off within 15 years). You don't want your IRA being bled down by Negative Cash Flow! And equity build up (paying off) will accelerate returns down the road or allow you to sell/exchange for larger properties (move from single to duplex/tri/fourplex to 5-20 Units, to 100's of units, etc.).
Also on a note regarding Value (determining), as a Buyer, I ALWAYS have a professional appraisal done & paid for BY ME (sorry, but I don't trust sellers/owner/agents or their appraisers, and certainly don't trust "Market Analysis", except for "ball park" values! As stated Due Diligence, Due Diligence, Due Diligence!!