[Calc Review] Help me analyze this deal

[Neel Patel]

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So I've come across this Tri-Plex property that's a new construction in a growing part of town. The city has decided to invest $30MM into the infrastucture and 'cleaning' up the area. The property sits in a class C area, market rents are estimated at $700-$800 and has a good possibility to rent out on Section 8. 

The small multifamily market in Huntsville is a little dry and most investors are seemingly making equity moves and some people are theorizing that the small multifamily market is still warming up. 

In theory the property is in a great location and could be capitalized on, but I don't want to force the deal if the numbers aren't working. My team is fairly new and conventional lending may not be an option. I would just like to discuss how investors would approach this deal. Should I be accounting for so much for insurance and repairs since its a new construction? What could be some other potential exit strategies for this kind of deal?