I would also target ones that are ideal for renting out when you move out so maybe do a lower price point. 

They are targeting, so far, 270,000 people.

I recently came across one of there web sites that had there address in Princeton, New Jersey. 

I recommend researching the average appreciation over the past 10 years in your target area to get a clearer picture.As you know, in real estate, ROI comes from multiple sources: Home Appreciation:  Reno Appreciation: Value added through renovations or improvements (usually just in the first year).

It is fair to express your disappointment that they exceeded the cost target you gave them. 

(Starbucks / yoga studio / craft brewery /boutique cookie,coffe or ice cream shop  are the easiest targets)-Activation of dormant retail sites-Increased foot traffic For B to AAbove also apply-Home valuations (are homes in the increasing at rates above nearby or similar neighborhoods)-Is it walkable or are projects in place to make it highly walkable for residents-Is it near highly desirable activity centers -is it unique (for example - Can it get historic designation)

Quote from @Kailas Tare: When deciding which market segment to target in real estate—whether it’s multifamily (MF) properties or single-family homes (SFH)—it's crucial to consider the dynamics of the competitive landscape and your own financial position.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Also would you focus on a specific target market you are familiar with and know the comps like the back of your hand and have boots on the ground ?

The best projects I've seen from my desk are folks who are doing hyper-targeted, well-researched deals that are generally in higher cost of living (there are exceptions) areas.