I am in the Milwaukee market. 

The Cville market is quite competitive.

Rich Ng That's good to know, I know people who have had issues in Salem with big differences between market and section 8.

How are you coming up with that much larger market rent for all those units?

This deal was brought us off-market by a friend.

I can do financial modeling with you and talk to other new build investors it's a slow growth plan. build directly at 25% below the market and also identify land too. increase unit counts and get better economies of scale. single family homes will never perform like a three story walk up apartment. we build a stacked triplex in Columbus Ohio with a picture below, if you are set on Dallas look at land prices and see if the economics help. 

Woah 13.85% even on an investment property is super high...I got a heloc at a 7.25% (this is variable with the market as with any HELOC) for an investment property.Talk to your local credit union.

I have the option to buy a 1,300-sqft 3-bed, 1.5-bath house in South End neighborhood of Stamford, CT, from a family member before it goes on the market.

Have you had an appraisal done recently, or do you have comps to estimate the property's market value?

Quote from @Robert Jones: @Kristi Kandel what market are you in?