I wanted to know if anyone has a underwriting for condominium or townhome development? 

Shiv -  I worked on a transaction within the past yr in this project and there were several units AIRBNBing ....SEABOARD BUILDING CONDOMINIUM 1500 4TH AVE SEATTLE, WA 98101

Unemployment numbers, percent of population between 20 and 34 and then 55+ Vacancy rates, median household income, per capita income, median home price, to name a few.4. after you lay out the numbers for each market you can then get a clearer picture of which market will best suit your needs.Use resources like Viewpoint 2019, Berkadia 2019 national apartment forecast, 2019 Multifamily investment forecast to help aid you.An article I wrote on this exact topic can be found here  https://pikecountyreia.org/picking-a-real-estate-market/ Please feel free to reach out to me if I can add value to you in any way.  

2, what is the ROI generally speaking of a condominium apartment.3, are you renting them in a traditional way or using short term rental (Airbnb)?

Limited lodging shall only be permitted when arranged through a booking agent as defined in § 19-2401.Limited Lodging, Short Term.The accommodation of visitors conducted in a dwelling unit, the primary use of which is for household living, and where the total accommodations of visitors provided is for fewer than ninety-one (91) days per year but where the provision of lodging to any particular visitor is for no more than thirty (30) consecutive days.

If your requested rent does not include utilities, the HA will guesstimate the utility expense based on many things such as the age, size, number of exposed walls, heat source, appliances, household size,       etc.  

Is targeting household income a good idea?

The NAR’s Housing Affordability Index compares household income, home prices, and mortgage costs.

He's well into his 80s and in poor health, lives alone and has multiple units in my condominium.  

Twenty-four hours is presumed to be a reasonable notice in the absence of evidence to the contrary.(9) Promptly commence an action under Chapter 1923. of the Revised Code, after complying with division (C) of section 5321.17 of the Revised Code, to remove a tenant from particular residential premises, if the tenant fails to vacate the premises within three days after the giving of the notice required by that division and if the landlord has actual knowledge of or has reasonable cause to believe that the tenant, any person in the tenant's household, or any person on the premises with the consent of the tenant previously has or presently is engaged in a violation as described in division (A)(6)(a)(i) of section 1923.02 of the Revised Code, whether or not the tenant or other person has been charged with, has pleaded guilty to or been convicted of, or has been determined to be a delinquent child for an act that, if committed by an adult, would be a violation as described in that division.