But my purpose for the post was to get feedback from investors who have seen success.

Numbers like occupancy rates, loan defaults, etc. all remain quite favorable when compared to those of SFHs during a recession.On top of that, if you work with a good syndicator, they'll only bring you deals that will perform (albeit not to projections) in a down market.

I have been to several auctions myself just for educational purposes.

Keep in mind the ductless mini splits hvac systems work well enough in the smaller style homes and are relatively cheap as compared. 

Here apartment buildings are assessed {theoretically} on the value of the business where separately deeded town/row houses would be assessed based on comparative sales.    

Account Closed The closing date is the general ruleThe property "in service" date is what others also use for tax purposes and deductions.

This will give you the most honest comparable return calculation similar to NPV.

I'm still pretty new to the party so I couldn't compare it to other markets.

My goal was to finish the race and do my best regardless of where I was compared to the other runners.4.

You can usually buy a property and use it for its original intended purpose without too much trouble or review, but when you try to use it for a different,  non-conforming purpose most cities have some sort of planning/zoning commission that will have to review and approve it before its approved.