April 14, 2005 Mail Stop 0409 	VIA U.S. MAIL AND FAX (864) 239-5824 Mr. Stephen Waters Vice President NPI Equity Investments, Inc. 55 Beattie Place, PO Box 1089 Greenville, SC 29602 Re:	National Property Investors III, 4, 5 and 6 	Forms 10-KSB for the year ended December 31, 2004 	File Nos. 0-09567, 0-10412, 0-11095, 0-11864 Dear Mr. Waters: We have completed our review of your Forms 10-KSB and do not, at this time, have any further comments. 							Sincerely, Steven Jacobs 							Accounting Branch Chief ?? ?? ?? ?? Hewitt Associates, Inc. December 28, 2004 Page 2