I purely need it for managing payment, and maintenance, as I do not want calls/texts to my cell. 

$2k pure profit is do-able but as a first time REI and I'm only assuming you are going to manage from out of state, it may be challenging.

A separate laundry room or purely storage area would not likely be an issue.

And when you move out, you'll purely cashflow $500 (hypothetical simply for this point).

It's a pure cash-flow play. 

Property values are much too high as a general rule for a pure investment.

Pure coincidence, but that accounts for the flood of high quality applicants.We signed a multi-year lease with the first couple who saw the place in person.  

Hi Ken,The saying goes "Best time to buy is NOW, best time to sell is NEVER" Investing purely for cashflow should be a long term playIn my opinion, you will loose money in the short term.I would look at the investment from a 5+ year type horizon.Thanks

Do you find that commercial mixed use is at a higher or lower cap rate in comparison to purely residential?

Are you looking into house hack or just pure investment properties, or development like building potential DADU/ADU on an existing units?