The neighborhood was built in 2009 (15 yrs old). 

Rather, it's selling the property and investing in a multi-family value add fund (total ~ 7-10 buildings).

That would depend on a few factors:How confident you feel in managing the project (as @William Hutch mentioned).How confident you are in recognizing building issues/concerns, and pointing them out.How much time you have to oversee and research how things should be done.

Pulling out of building additional buildings we had planned.i. 

(Assuming fixed rate interest rate) in most the markets i work we are not seeing 100k price reductions.. my project in Oregon new builds I have actually raised prices over the last 18 months to all time highs.

If you are planning to spend time in any of the units during the first year the best thing to do would be to communicate to the lender that the building will be occupied as both a primary and secondary property by the owners. 

If it either ages in a worse shape than it is now or I get ready to sell the building I will have to do something else.

I was never involved in the business and don’t have any background in real estate to build on.

Others build their own using Boostly or another similar company due to the same concerns you mentioned.

I was even denied the records for this house such as building permits, add on history etc at city hall even though it's public record knowledge!!