Will it expose systemic greed, or will it shift the blame to other factors like housing shortages?

I am sure it will all work out for you in the long run.. we sold ours and made a tiny profit on each but its better than a loss right ?

Then remember to factor in vacancy and turn over cost.

I would definitely factor in some substantial capex/ maintenance and repair costs which could lower your returns.  

@Damon AlbersI hate the alphabet rating system because it is such an arbitrary thing that boils down many important factors to one letter. 

One thing to add is that when you buy a new build, your PITI will likely not be factoring in the correct state tax number.

When I'm looking at potential opportunity, price isn't that big of a factor.

When considering refinancing, also factor in the closing costs of the new mortgage to determine if it actually helps you.

What further analysis should I be honing in on and key factors/metrics/info that may be providing inaccurate numbers?

Meaning truly intrinsic(2x DSCR not 1x DSCR), then roll the dice and lever the minimum you need to get the deal done and understand to put more to reserves than anything else for the first 3-5 years from your current and new property.The risk:reward ratio is very low when you factor in a lack of liquidity.