There are a lot of market-specific issues you'll have to grapple with and also, there are plenty of landmines in MFR on its own in CT that you'll have to be ready for, in addition to the nuances and complexities of developing something like this.

So, here are the basics based on my market, which is AZ.  

I know many investors go out of state for buy and hold properties to generate passive income, but is Blythe a lucrative market?

Furthermore, @Dave Meyer has a YouTube show/podcast on market trends for your reference.

Those rates are not as nice as rates we got a few years ago for less than 3%, but in today's market I'll take those rates. 

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Purchase price: $230,000 Cash invested: $283,550 Sale price: $283,500 Purchased off market. $25,000 Rehab. $20,000 profit after realtor commission.

This is effectively legislation to open up the market to new prospects. 

Are they way under market, or is it manageable for now?

Houston is an excellent market for multifamily investments.