Once everyone gets on the bandwagon though, the prices rise due to influx and the equity goes away and then you are looking at prices closer to market value.

Homes are selling with only a few days on the market and prices are high.My thought is the rise in interest rates will slow the market down.

Plus whatever property insurance will be.So for example if the rent was 900 your fees for those 3 would be$270900-270 = 630 not including mortgage or insurance.Now on the flip side since the area is hot you could see your property values rise and the cost of rents go up.  

Rents and interest rates will rise, causing investment earnings to rise as well, and the apartments will gain value over time, enabling principal growth even at a 10% withdrawal rate.  

The 40k job adjusted for promotions and increases even with inflation will not allow you to save much at all.You could also go into business for yourself and get an SBA loan putting 10% down.

Once interest rates rise, prices will have to adjust because there will be a much smaller pool of buyers outside of Hyde Park and other foreign buyer enclaves.

Appreciation is icing on the cake and your property should keep up with inflation over the long-term. 

We were called crazy for providing such "inflated" capex numbers.

I specialize in luxury residences, condos, hi-rises, and investment properties in the Miami markets.I am fluent in English & Spanish – and work with many international clients. 

You could try an agent too but I'd be a little skeptical because I know there are a lot of really great agents, but there are also a lot that will tell you an inflated price to make it look like a better deal & make a sale.