I am trying to acquire more properties for my portfolio, but the banks will not give me a pre-approval for a loan with any of my units 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. 

You can see this information when you ask for the Repair and Reserves Analysis report from the HOA.Stick with Low-rise type of condos, the fees tend to be lower.