Faltering early progress in the quest for a model of large scale institutional investment seems to suggest that there is more to it that the modest adaptation of existing business models. Deriving a decent return from the net operating profit of a residential rental business (rather than capital asset appreciation) will require a thoroughly service oriented approach. To judge from our experience of the United States, a successful business would probably be founded on very thorough market research, highly differentiated standards of service and space according to affordability - all within a very high quality management regime. The business would be powerfully branded and designers would be designing for a business rather than designing a building.
Some aspects of the Build to Let business idea: