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                                                                EXHIBIT 23.10.34
 
                        CONSENT OF INDEPENDENT AUDITORS
 
     We consent to the reference to our firm under the caption "Experts" in the
Prospectus Supplement of AIMCO Properties L.P. related to the offer to acquire
units of limited partnership interest of Investors First-Staged Equity Limited
Partnership and to the incorporation by reference therein of our report dated
March 3, 1998, except for Note L, as to which the date is March 17, 1998, with
respect to the consolidated financial statements of Investors First-Staged
Equity Limited Partnership included in its Annual Report (Form 10-KSB) for the
year ended December 31, 1997, filed with the Securities and Exchange Commission.
 
                                            /s/ ERNST & YOUNG LLP
 
Greenville, South Carolina
October 27, 1998