Because this will be my first Multifamily as well as my first time being a landlord , I'm very much in love with the idea of very low CAP Ex Repairs needed in the first 5 years, the tenant quality applying to a new build unit in a new community, Just a much nicer and newer product for the money .

Not to be left behind, institutional and public REIT investors persist in their pace of acquisitions, homing in on first-class developments and prime locations.Yields on stabilized industrial investments continue to price in a tight range over treasuries, which began falling in the fourth quarter due to slowing economic growth and the market's expectations of rate cuts beginning in the first half of 2024.Properties offering in-place rents substantially below market can still see cap rates in the upper 4% range, but a growing portion now trades in the low 5% spectrum.

How did you calculate maintenance, repairs and capex?

I have clients with no credit history and low scores who get hard money financing for flips just based off of the return on investment.

If you'd rather not deal with tenant calls or maintenance issues, a manager might be worth the cost.You've put some great thought into your plan.

If you don't know your landlord tenant code, how to give proper notices, how long you have to fix maintenance issues, how to evict if needed, etc...you should hire a property manager

Not too low either, you don't want to go with someone who is just focused on price as this is a quality of a not-so-great accountant.

Cedar offers natural resistance to rot and pests with a great look that can enhance property value, but at a significantly higher cost and it requires regular maintenance to retain its appearance.

The couple is divorced. both names on the mortgage. went to auction for foreclosure now. some equity for the owner probably still in property. existing/defaulting FHA loan at a low rate. 

However,  there are many variables that come into play: location, low rents, Cap X costs, etc.