There is a high concentration of those in Texas (about 2/3) but it is relatively similar in most of the markets we lend.

How do you go about determining market rate?

I'd recommend looking at costs. your build cost is going to be well over other homes because of the fixed costs like slab, Hvac, roof, etc. check the market drivers and weight the benefits of short term versus long term. long term is no furniture and help pays mortgage but at this size it doesn't really cover everything. we didn't find a lot of economies of scale in single family detached. can you build more than one unit?

It's real estate in markets with population growth, it's pretty hard to lose money if you get an inspection and appraisal."....Wishful thinking at best when buying C/D properties.

As leases expire and economic conditions shift, the city’s grocery market will likely continue to evolve.

This year I may see if if I can get a construction loan to build 20-30 apartments, then refinance with an asset based lender. what markets?

I would rather recommend being a maximum 3-4 hours drive from whatever market you decide to get into. 

This property has a ton of deferred maintenance but I'm purchasing it well below market value and I have a decent budget. 

If market appreciates you can get a HELOC on it or cash out refi in a few years to scale faster.

Are you currently investing in your hometown or are you looking at out of state markets?