This was in a middle class neighborhood and I get why that is less risk however with apartments increasingly including laundry, I would imagine demand lessening in that location. 

Your calculations should include utililies and repairs, legals, snow removal, etc.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases: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.

I reviewed the SB9 legislation, and it states that properties occupied by a tenant in the last 3 years are excluded from SB9 but only if the project includes demolition or altering more than 25% of the exterior structural wall.

Main benefits to this strategy include:- Low down payment options (as low as 3-5%)- Acquisition experience- Property management experienceThe NYC metro area has nearly 2,000 available 2-4 unit listings on the market.Other new investors consider the BRRRR Strategy.All the best to you on your journey!

Rookie question here - when you are talking about multi-family, are you generally talking about larger commercial buildings or also including small (2-4) unit properties in this analysis? 

Make sure the units are fully furnished with all the basics, and consider including utilities, Wi-Fi, and flexible leases to make them more appealing.

Its pros include streamlined property tracking, access to owner data, automated direct mail campaigns, and team collaboration features.

If all that happened I suggest you start including dryers with the properties.

Here's an article with FAQs including the cost of a study.