After looking at several dozen single family properties (more or less with no rehab necessary) ranging from $130-$175K, I’m seriously beginning to question how you make money with a long term hold single family rental given the tax rates in desirable school districts and the lack of any exemptions on assessed value for owners not occupying the property.

I would start there or check loopnet and see which brokers are really active, especially in the 20 unit range you're in and call them for a referral.

Remember most people quite in the 2-4 round range.

He wants $395k for 5 units. the gross monthly income ranges from $500-585/mo/unit...it averages to about $567mo per unit.

Do you have a target price range?

The appraisals on my past Alta statements have ranged from $450-$600. 

National average for residential is in the 5% range.

More than likely you'll see a 8%+ CoC (think 9-11% ish) and an IRR in the 16-23% range.

Are there any common facilities (water, septic, road, etc.), or common property that the homeowners or developer will need to manage.

Your best bet is to show the broker your current liquidity and the purchase price range you are targeting.