I can only imagine the pressure on the team. 

You would then start having investor meetings and let people know that you are active looking for types of deal that look like your deal package (making it clear that this is just a sample deal), gauging interest, answering questions, etc.

It'd also help you gauge the vacancy rate once implemented. 

Time is of the Essence" is a legal term you DO NOT want in your contract to purchase (use it only when you are selling) - you don't want the pressure to close and the right to extend.You need to build in an automatic extension in your offer rather than asking for an extension when you need it.Understanding delayed settlement language is important - you need all the time you can bargain for in the beginning of your contract negotiations - because nothing closes on time - you don't want to lose your deal because you ran out of contract time.Make full disclosures to your building owner - they need to know that you are really not going to buy (if you are flipping) their building - the seller needs to understand and be cooperative with you - create NO surprises and you will profit.Consider a Hybrid offer - this is one where the seller gets a percentage of you profits - this creates cooperation of the sellerAlways ask for seller financing - try first for a "Principal Mortgage" this is one without interest, make sure it is fully assumable without qualification in the event you assign your deal you can assign your seller take back, so if you have a NO INTEREST loan from the seller - you can assign your mortgage and add interest. 

My challenge is gauging whether or not I'm being too conservative in my estimates such that I might price myself out of the deal, or if there are other considerations I should be making that would make the deal an obvious choice.

If you use a pressure sensitive adhesive for the vinyl, if your house floods, the glue can get loose, but you can glue it back. 

@Adam Conrad, the cash in the 1031 exchange is your down payment and needs to be counted to accurately gauge your CoC return.  

below ground means it's a burried tank, most likely the building dept will want it excavated and new one installed either in the basement or above ground. if you buy a property with a below ground oil tank it can be an environmental night mare if it fails a pressure test and is leaking. the soil around the tank will need to be professionally removed and hold off to an approved facility. you will have the Dec and building dept watching every move. make sure you get quotes to get an approximate idea of costs on this and add that into you purchase offer, be very well prepared to take on a project like this when buying with a below grade oil tank

It's difficult to accurately gauge the condition of the units and property as a whole however because my realtor informed me that an offer must be made in order to find out those crucial details and request that information from the seller; doesn't really make sense to me as this information could make or break the deal in terms of cash ROI.

Maybe message a few of them back and forth to gauge their ability to communicate effectively and timely through email before a skype conversation.