30 minutes surveying 6 PMs seems like a reasonable investment for $325k.But everything else looks somewhat reasonable.Was curious what MFH investors think about 5% repair?

I plan to survey the tenants once I have the building stabilized.  

The easiest way to know what is smart and what is not is to do a market survey of that area. 

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Consult a realtor and/or do your own market surveys, depending on the size.

The National Multi Housing council released the results of a survey last week of 1,000 renters and their preferences.

For example, security deposits, any expenses (such as a "finders fee") that doesn't meet the definition of a qualified exchange expense (should be POC) , ditto any cash needed for the purchase and closing of the replacement property POC (for example, home inspection, termite, roof consulting, survey, lender points, utilities).

Survey?

Such as inspection, mold testing, HOA document fee to read through the bylaws, boundary survey, wind mitigation reports, loan application and credit report fees etc...are those exceptions to the acquisition costs or no? 

A bank may want to see a lot survey or a copy of the recored plat showing the property lines and any easements if they exist.Judging by your question of "if it is buildable" makes me think the developer just laid and road down and didn't do much grading to get the building sites ready.