I would look in the smaller markets in the outer band of RTP.

On a more enterprise scale, I employ RevMax software as well as a fractional revenue manager who looks at the prices daily on a market level and a comp set level. 

I am looking to purchase a residential or commercial multi family in the Sherman/Dennison TX area.

Without accounting for management fees (I have not yet decided if I will try to self manage), and with planning to raise rents to typical market of $825 for each of the smaller units, and $1200 for the larger unit, does this seem like a worthy first investment? 

After signing up for a subscription I ended up not using the service because it didn't work well in smaller markets.

An engineering backed modeling study would be good for smaller residential properties.

Quote from @Mike Pak: I just purchased from Josh Gilmore and SDIRA wealth.

If you intend to pay cash for the property, then purchasing it in your LLC is a good idea. 

I’m currently evaluating whether to go with a Fund Model instead of a traditional JV for an upcoming multifamily project, I will be working as a developer looking to do work with a more experienced developer on a larger scale multi-family opportunity.

We can't find the next opportunity, have little economy of scale, so I'm forced to keep our reserves high.