this is a supply demand situation.. seems to be an over supply right at the moment.. rents will hit a equilibrium over time .Issue becomes these projects take so long start to finish.. that what you modeled when you went into the deal is not market conditions when your ready for occupancy.. this is happening in A class throughout the US .. in many markets east side of Portland for sure.. 

I'm surprised your agent is not supplying you with referrals.

If you buy for cash in an area like Sandusky you will lose capital since supply outstrips demand meaning you won't get any meaningful apperciation.

Turn off all the supply valves. 2.

If you are providing supplies, how will the inventory be managed?  

They only sell Carrier and Daikin, which are fancier than the currently installed Goodman unit.Is there any real savings to be had by purchasing the unit directly from an HVAC or plumbing supply house?

So when you’re talking about those markets, I do think SFH/condos/2-4’s have distinct advantages over MF: better loans (low rate 30 year fixed/no need to refi in 5-7-10 years); much stronger appreciation; usually top notch  tenants who are easier to deal with.)  

Well, besides PITI, there's maintenance which is basically the amount you allot to take care of things like replacing a door lock that someone used a pliers on, broken glass, door weather seals, HVAC maintenance, supplies to maintain the lawn, termite treatment, replacement boards for the fence, caulk and paint, etc.

I am doing all of the work of finding the deal, arranging a PM etc, and my investor is just supplying the funds for the down payment.

Yeah, I have the same issue in Austin, TX trying to find multi-family properties - little to no supply and very expensive.