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.

I read this as someone using a short-term lens to focus on a long-term issue. 

just a question - does '1 hour to resolve complaint' actually mean resolution of the issue? 

If it has a good review history, there probably isn't any issues with the place.

Many of the properties I have been looking at have issues but in this case I'm working with the seller to let me get it up to conventional appraisal standards before they inspect it.

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.

Do you have any rust issue?

The challenge with S8 in this scenario is you always have a piano over your head and all a tenant has to do is call the code office to create an issue for you. 

Issue:  computer-generated random phone numbers for outgoing calls. 

However, there is no way to do so without risk.The Internal Revenue Services issues three (3) Private Letter Rulings (PLRs) that allowed the taxpayers to do just this.