Are you highly analytical and introverted or a networker that can't be burdened with the details?  

As I will be new to Durham when I move, I am also looking to join meetups in the Durham area and find mentors whom I can help with my analytical skills as an engineer!

SCORE is also free too, and a superb resource: https://www.score.org/find-men.... 

According to Moody’s Analytics, multi-family properties are currently the highest-performing asset classes.

My point here is that someone like you who is seemingly analytical, needs to determine the end game and reverse plan from there, I think right now you are reverse planning from 4K NOI and that is just a number target you derived for unknown reasons and isn't far enough in your future to reverse plan from to form a long term strategy.

Below is some research I have done - The following are firms that are predicting that US home prices will fall in 2023:Goldman Sachs, Morgan Stanley, Wells Fargo, Moody's Analytics, Bank of America,KPMG, Zondahome, JBREC, Yieldstreet, Zelman & Associates, Pantheon Macro,AEI, TD Bank US, Pantheon Macro, Cap Economics, CoStar Group, Amherst Holdings, ING Economics, Calculated risk, Housing Wire (Mohtashami), Redfin, Altos Research, Kwri's chief economist (Gonzalez), Fannie Mae, Zillow, SP Global.The following are firms that are predicting that US home prices will be flat (less than 1% gain, but not greater than a 1% decline) in 2023:Freddie Mac, MBA MortgageThe following are firms that are predicting that US home prices will rise in 2023:RDC Economics, CoreLogicInc, Home LLC (Nikhaar Shah), Nardot Realtor."

@Micah Hensley If you're really wanting to delve into the analytics of the property I can provide you with CMAs.

I hope you don't fall into analysis paralysis like us analytical types do.

You sound like a very educated and analytical person, so I think you will do just fine.

IMO the analytical framework for bringing all of these elements together to calculate your returns is IRR (can google it) ... running some scenarios through IRR calculations will help you see how things can pan out in the long haul.