You may come across pushback with having co-gendered units so as you grow I would suggest leaving room to have unit(s) that are male and female only for those who are more comfortable with living with others from the same gender. 

Any suggestions for local experts in jersey city? 

However, their terms involve a 20-year amortization, a 5-year ARM, and a rate of prime + 0.5% thereafter.I’m exploring other options for financing and would appreciate any suggestions or advice.

HI @Jacob KazmierskiI would suggest saving a certian % you fee comfortable with and then put the rest into a high yield savings account.

He has suggested an 8-unit building.10,000 sq/ft @ $215 sq/ft = around $2.15MEach unit will be worth around $268,750The current plot of land is currently zoned for a duplex without further approval from the city/community, but the zoning on the land can allow for up to 8 units by applying for a Special Use Permit through the city.

 @Samuel Diouf which neighborhoods in Columbus would you suggest looking into?

Newer appliances, free nice laundry, 2nd floor, yard space, storage, clean bathroom, included heat, installed window A/C.Appraisal suggested the unit was worth 2,300 a month, which I felt was a bit high, so I listed it for $2,150 with no move in fee and a 2k deposit.

I would potnetially even suggest they pay a big more than value if they are getting that good of a payment/rate.

Also, be careful with any contractor recommending or suggesting you pull an owner-builder permit as this is usually a sign they are unlicensed or unable to pull their own permits.

I stopped paying the 1%+ and my principal finally started to decrease, significantly.My suggestion is that you ask brokers for recommendations that are in the area where you are purchasing your property and keep calling banks and save thousands of dollars you can use to invest for your next purchase.Two things:  Your broker wasn't getting rich on a 1% commission and the 1% you paid to your broker didn't keep your principal from decreasing; it was probably the cash out he got you (and at a higher LTV than the bank would lend you I might add).Banks and brokers each have a place in the lending arena.Stephanie