is this a long-term play or short term?   

I wonder if the disciplined, long-term play is better than having the cash now.

I am considering getting into this space (looking at some courses), but worried that its too late, and that deep local market knowledge/understanding of buyers/connection with developers etc is required to make this work, which only incumbent/long term investors will have and would be hard for a new entrant starting from scratch to catch-up...is my hypothesis valid in your opinion ?

•Mix of Strategies – While it’s known for cash flow, Detroit also has neighborhoods where long-term appreciation is playing out.It’s not a perfect market (no market is), but it definitely deserves a look if you’re open to expanding your list.

Then if you still 100K off, I would start dropping the price in a big way to get to an even playing field. 

Not sure what the question is here.What role are you playing in this scenario? 

Also, your DTI does not come into play. 

This 16-acre mixed-use community bridges Downtown Gastonia and the historic Loray Mill District, creating a vibrant live/work/play corridor.⚾ Franklin Yards-Gastonia- A $26M, 5,000-seat multi-purpose sports and entertainment venue, with future plans for residential, retail, and office spaces.🍽 Food Hall-Gastonia-Gaston County’s first food hall is in the works!

I'd say 1% deals are going to be more of an appreciation play rather than a 2% deal which will undoubtably cash flow. 

There are major things at play here that are extremely specific to NJ  when it comes to buying a multi family property.