Late to the game to reply.   

I did not dive into your numbers extensively, but 1.9% CoC return is not nearly enough for me.Good for you for not trusting the seller’s rent estimates!

there are so many posts on BP by people who plan to take out a loan at 8-12% on a HELOC in order to get a return of 0-6% just to "buy more doors."

Total return used to allure me but no more.

Infrastructure costs of $900k for the development were estimated (late 2022).

Returns where  -98.3% .I got a check for  $1751..

He even made a solid friendship with one of his tenants, who now handles some of the property managment for him.These neighborhoods are perfect if you want a vibrant urban lifestyle while also reaping strong rental returns.

If they're making the returns you expected, I'd give it some time for you to get comfortable having someone else holding the reins.

Is 8-10% return reasonable?

We ask simply questions, like were they late, did they have lease violations, outstanding debt and would you lease to the tenant again.