However, from what I understand,  it will be difficult to find a lawyer with such a low amount.  

Its much better to lose $100-$200 a month on a property because rent is low, than it is to lose your entire mortgage payment, insurance, tax, maintenance, etc because the property is vacant. 

but for your own, personal, investment and DD purposes, I agree an analysis like what you describe can be helpful on the LOW end in a heated market.  

It looks much better and you managed to keep the costs low.

Water sub-meters run as low as $45 for manual read meters to over $300 for RF meters.

What's great about buying multifamily (5 or more units) in low cap rate markets is that increases in rent have a great impact on the property value.

Apparently my income to debt ration is too low, they would only give me 90% over 20 Years even though my Active Income + Rental Income is double my debt. - Was very strange.

I see way too many people thinking there's an outsized demand for luxury rentals when in my experience, it's a niche market and eats the unprepared alive just as much as the opposite niche, DIY landlording with low-cost rentals in borderline urban locations, which is what I do.

Seems that things have slowed down, but some areas are still popping with low DOM for properties and demand still strong.

Core principals have not changed - Buy low, sell high.