The major pieces of information you are missing include NOI which includes deducting all of your operating expenses from your gross rents sans debt service, market dynamics (what are vacancy rates and asking rents like in the market the building is located in?)

For the most part, due to interest rates, breaking the 1% cap rate still won't provide positive return after expenses.

., with the rapid rise of STRs, you will find that many insurers offer STR policies.We use Proper but it is very expensive but very comprehensive.

So my limited experience with a new build did not yield cap ex expenses with what you are proposing. 

You can expect turnover costs, losses due to vacancies, and other expenses.

I ASSUME you’re talking $400+ in extra expenses for providing water, power, sewer, gas, internet, communal area cleaning, and exterior maintenance.

We all know how expensive the market is in the area and this presents a particular struggle for me as I can't just move to a cheaper area.

Because of my savings and lack of expenses, I'm in a very comfortable position to make my first move, but because my income is mid, I'm unable to meet the Debt-to-Income requirements to qualify.

But I feel like having the bank connections (to automatically pull in those expenses/revenues) is key to streamlining things.

This affordability attracts buyers seeking value, especially those priced out of more expensive regions.3.