Follow me for juice and I will also be posting updates for build to rent project I am doing with an investor. 

Couple things:1) If all units are 2 bed 2.5 bath - why is one unit so much higher in rent?

I own four small office buildings, a 10,000 sq ft retail building that we rent to a daycare, and a 24,000 sq ft warehouse that we are renovating.

It's a conventional loan and we can use 75% of the rents to help you qualify. 

The state has consistently ranked as one of the most expensive places to rent and buy.

One of the units is currently rented under market value.

Projected CF after the first year is $650 after PITI, Vacay, Repair, capex, Etc.Purchased under market rent as tenants were paying $880 m/o.

Projected CF after the first year is $650 after PITI, Vacay, Repair, capex, Etc.Purchased under market rent as tenants were paying $880 m/o.

This will increase the return above what can be obtained on a passive investment.The flipside of having the power to control everything is that can be alot of work (and a full-time job if you are putting in sweat equity).

Develop a subject matter expertise and a strategy.Remember that the rent growth in lower appreciation/high cash flow markets will be lower than a place like SLC.