Small multi-family is hot right now due to house-hacking (low barrier of entry), and future cash-flow. 

I'm hopeful we can find more productive ways with less red tape in the future outside of LIHTC leveraging technology since standard construction really could use an overhaul.  

People will rent homes in that area because they cannot yet afford to buy, but hope to buy a newer home in the future and keep the kids in the same school system and around their same friends.

That level of diligence isn't possible with human effort or even traditional data processing techniques.I would like to expand to investors in the future but this technology is very new. got it also commerical Brokers I suspect would be a target for you.. 

Others recommend tools like Stessa or Buildium to track actual costs and project future expenses. 

It’s a great reminder to trust your own due diligence and not let others make critical decisions for you, like hiring a property manager.For future investments, building a trusted team and maintaining direct oversight is key, even with remote deals.

This has the obvious weakness of the unknown nature of future cap rates, but that's really the heart of your question here.Estimating future cap rate is part art, part science. 

Last thought (mainly for future readers), you may be talking about the 1 year FHA history if you have variable income.

I think the before vs after pictures really speak primarily to your experience and ability to execute a project so it can help lenders gain comfort with future projects and allow you demonstrate what level of detail you except out of your contractors.

I’m a 41-year-old father of six who loves the Lord and is driven by a desire to build a better future for my family through real estate.I own a small tile installation business, am a certified insurance agent, and am currently in the process of obtaining my real estate license.