The community is walking distance from the Lindbergh MARTA station, gated, and has a pool, gym, clubhouse, and tennis court.

There might be a good reason those rents are set at that price maybe the local tenant pool is broke the property is an eyesore or there was a murder down the street , so many factors .

In my market SoCal, as a GC I'm quoting $300-350 ft but that would include a pool and landscaping.There are also the cost plans, permits, developer fees, sewer and water connection fees that add another 10-15%

HOA is reasonable at ~$200, there is a small pool and gym, etc., but I just learned that I have to pay a "HOA Initiation fee" of $5k.

Also find out about borrowing out of your 401k and pooling all your resources to buy the property "cash" and then do a cash out refi with delayed financing exception to avoid waiting periods (if it is possible) Does anyone know if that exception applies on commercial loans?

Certain locations you have opportunities to throw in a monthly bus/subway passes to tenants, or local pool or gym.

Cash from ever growing pool of rental income from the first purchases.

The nice thing about timeshares is they won't be direct competition for your rental as they are limited to the pool of owners. 

For what it's worth, I do intend to sell rental properties one day (even the ones that are performing well) in order to pool resources for purchasing a larger property. 

He is currently paying $500/week/person to house his out of state crew in a nice hotel (the kind with a pool and breakfast).