However, it has a pretty decent size kitchen which really helps make up for the smaller "living room" area. the 2 bedrooms are decent sizes, and everything is completely updated (new floors, paint, SS Appliances, Quarts countertop, cabinets, etc).

A lot of companies are doing something to protect themselves, which is to completely remove the criminal portion.

I assume that is where a good portion of the variance is coming from.Great job diving into the numbers on the properties as that is always good practice and allows you to better understand what numbers you want to input on the various types of assets you explore investing in. 

Outside of City services you will need to punch a well and depending on the size of the community maybe two. 

My rent is $700.Me: "Correct, but your portion of the rent is $161, and housing assistance pays the rest."

@Abdur-Rahman Felton My sister invests in Texas and has a mid-sized portfolio.

For utilities, you can estimate based on the size and type of the property.

I know it needs a few things (bathroom size) revised to make it code compliant, and I will need an architect to help navigate zoning (another thing we don't do in Houston :D), site plans, elevation aesthetics and local requirements. 

Locations depend on size of investment.

As soon as you bump up to medium sized multifamily, costs can add up quick.