My main concern is the interest rates being so high now as to whether what I'm hoping to achieve is really even possible. 

Sure, mortgage insurance eats into your cash flow a little bit if you're putting less than 20% down but in the scheme of things it's really not that much.Also, you won't have 20% equity in your property in a year assuming you put 10% down unless you are forcing appreciation or you somehow get some high market appreciation.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Highly doubtful that there is a NNN lease equivilatent for residential properties.

This is a fine needle to thread because at this size, you very quickly start competing with high net worth individuals who are seeking summer homes. 

I would highly encourage paying a GC to walk deals out the gate, have them give a scope of work so you can see what items costs.

It's very difficult to get SFR to cash flow these days with interest rates as high as they are.

Start with durable, high-quality basics: plush towels, soft linens, and a fully stocked kitchen with sharp knives, pans, and essentials like oil and spices.

Now that is a very high level example but the appreciation is not gone if that makes sense you will capture the ballpark same appreciation if the properties are comparable.  

Most of my CFO clients that are in residential development are looking for IRRs (usually over a minimum 5-year period) in the high teens and the commercial developers are looking in the low to mid 20% range.