- Any tips or lessons learned for this type of project: I am typically a buy-and-hold kind of person and this is my first construction project.Thank youMo

But I like the cleanliness of some of the programs with the convenience of online payments, work orders, background checks, leases, etc...  

You might consider both (asking for references, and scouting the early bird material buyers in different sections of store) so that you have contacts for quick-and-dirty jobs, as well as larger projects.  

Are there any good tips on how to better estimate reserve costs for new apartments?

You can get some online pretty cheaply.

When I go to Lowes I know everyone there and they know me, the in-store commercial guys will call me when there is clearance/closeout stuff they think I might like, and due to my volume purchases I have a good relationship with the regional sales rep who stops by my office for periodic visits and is a great go-to when I'm not getting the answers I want at the store. 

Posted the add online last Wednesday (9/6/2017) and had 4 people contact me interested in looking at it.

So find the right newspaperand you are in business.Also, there are two places I can see them online here in Georgia as well so you might try looking for things like 'Virginia Public Notices' or 'Virginia Legal Notices' and the same searches using your county name.

Could you tip me in the right direction concerning options?

I will also eventually be investing and managing out of state and could use tips there.