The analysis also reports that new multifamily development will “remain near the average recorded over the past five years”.Integra Realty Resources’ 2017 Commercial Real Estate Trends Report ranks Pittsburgh #2 on its Top Markets by Multifamily Transaction Volume Based on YoY Change.Pittsburgh’s rental vacancy rate has declined by 25% over the last five years.Pittsburgh is booming with developments (see reference #6), “there is no better place to be a developer right now than in Pittsburgh.

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Going direct saves you and the seller money, giving you a lower cost to entry which helps all your numbers, but you have to put in the extra work to find that deal.

@Ankit Lodha, as others have pointed out, this sounds like a transaction you should be able to get done.

Is it lower risk than flipping, rehabbing, or owning a property leveraged at 65%+ LTV?

It's lower than 1.5%, sometimes I price deals out conventional & DSCR, DSCR beats conventional pricing a fair amount of the time.The only catch is the prepayment penalty on a DSCR loan.

I do not have experience in commercial real estate transactions.

I went to every one of the 65 hearings myself and got 61 properties lower and 4 remaining the same. 

On houses below $200k, the 70% rule gives you too low of a profit - you need to lower it the lower you go (ie a $100k ARV would probably be a 60% rule).

This implies residential units can be built at lower costs and provide better return. 11) adding an ADU to SFH can make the SFH fall under rent control.good luck