For one thing as you probably have noticed it is hard to get accurate comps as there is nothing to compare.

Just estimate the expenses as accurately as you can, then look at your cash-on-cash and IRR figures (or whatever you're shooting for).

I have a referral for you for stabilized performing rentals with @Chris Erwin

And I know it is not good practice to not account for property management in the expenses, but at the outset (early years of ownership for our first few properties) should I discount expenses based upon performing our own property management to add the 10% property management to our cashflow?

The banks want to see that the asset is performing well and can pay for itself.

I'm still getting used to pulling accurate comps. 

None of the other top performing markets (based on appreciation) have similar infrastructure in place or coming on line.

Values the advantages of a high-performing team.  

There is a property analyzer tool you can use here on the site that will give you more accurate numbers.

So you have a potential for a financial loss.Also, if a broker brought you this deal and you can't perform, it will hurt your credibility and possibly never getting a deal from this contact in the future.Now all this being said, I have closed a couple large multifamily deals where I didn't have ANY money raised at the time I went UC.