There are a lot of market-specific issues you'll have to grapple with and also, there are plenty of landmines in MFR on its own in CT that you'll have to be ready for, in addition to the nuances and complexities of developing something like this.

Personally I'd like to talk with the landlord instead of a manager, in my mind, it's easier to cut out the middle man to have a conversation.

And plenty of people wholesale mls all the time and get deals it's actually quite common.

I'd prefer a smaller "Mom and Pop" type company if possible. 

I'd say three months on the short end to six months on the long end.Oh!

I'd research how much the rich people from NYC are paying and see what kind of houses they're staying in.

While hard/soft money lending is outside my area of expertise, I'd like to discuss a potential levered IRR scenario.Consider a $2.1 million property acquisition (10 cap) using a 1031 exchange with a $715,000 down payment.

So your 35% operating expenses makes sense and seem plenty conservative to me.  

Already plenty of good advice above, but there's one piece that is missing. 

I’d be happy to help—feel free to reach out!