I did make assumptions on insurance but I feel that $800/year is very low and that you would have 5% of rent in lawn care, professional fees for tax software and other, and a small budget for small repairs. 10% for property management is the norm until you are managing 5+ properties then you can start to get some breaks.I hope that you are able to make this work for you but it will be tight even with your 30% down payment which is a lot of cash to tie up.

Thanks- Curious why you're interested in the areas surrounding Camden City when all the development is happening directly in Camden?

Go office/retail OR large multifamily development if possible. 

I am looking to switch my software to something centralized.

In my software, it's literally a button click and a confirmation. 

I have decided to take the plunge, stop building for other developers and do it for myself. 

Commercial retail development in a specific area could help your decision. 

There's a lot of new development and jobs near there.

@Stephen R.Why don’t you resyndicate the asset, or put tax credits back on it, pull out a developer fee and then cash flow. 

Sometimes a bank is aiming to develop new investors, i.e. they are gathering up investment dollars.