Comparing the pros and cons of purchasing the 2 home types is not my aim here.In Scope: The change in the sales price of new construction homes from when they were first sold after construction to when they were sold subsequently versus the change in sales price for existing homes over the same period.

Yeh, I don't have anything to compare to that.

I went one for one down the coverages comparing US Coastal and Proper and I did much better with US Coastal.  

The rent to price ratio's look really good for Texas (as well as compared to national levels) and my models cashflow at 20% down if the rate is at 5% or lower, really at the current rates its more breakeven but there Refi potential over the coming years and there is appreciation upside in my opinion with the new Tom Thumb, HEB, and Target breaking ground this year making Forney a more classic style suburb.

Still new here- I know I can find the cap rate by dividing the NOI by the market value but what's the most reliable way of finding the market value? 

The renovation of a home can set it apart from a competing comparable property.

Lower priced markets in central valley have better rent/price but lower appreciation compared to bay area.   

Are multi-family rentals a strong investment in the Tampa area compared to condos/apartments?

I can help with some of the repairs if you are looking for reliable contractors.

You are trying to compare oranges and potatoes, this is not appropriate here.