Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

In any case, I wonder if a smaller project (say 4 units) that is on the smaller side with square footage can be built comparatively inexpensively.

I've heard that it is lower than MF but since I've never owned a SF rental, I don't have that data to compare! 

We used glue down vinyl plank flooring and the cost for the materials and installation in Florida was $3,000, which was a great deal when comparing to other companies fees.

I would shop around and price compare. 

@Dan Heuschele I think we are on the same page that even the rough parts of San Diego are mild compared to some of the larger cities, I just don't want people thinking Logan Heights is anything like some of those areas you mentioned.I feel pretty optimistic about the potential in the area, you should check out the San Diego City revitalization plan for Southeast San Diego if you want to see what might be in store for some of these areas. 

I was able obtain a traditional loan with a $1,200 mortgage payment, while I rented out the three rooms I had available for a total of $1,450.

These contracts are facilitated through what is called "double deposit escrow", as opposed to a traditional escrow company. 

An investor that isn’t paying attention and is comparing one offering to another might completely overlook the fact that the asset management fees are actually vastly different. 

Detroit looks good to me because of the higher rent/price ratio compared to most markets.