Are you scoping out the deals, negotiating contracts and leases, dealing with the attorneys and accountants, managing the property, finding and dealing with tenants, handling the day-to-day, keeping the books, paying the bills, taxes and insurance, managing construction, hiring, budgeting, oversight, etc if it's a new development, are you finding the lender and negotiating terms and your partners are just agreeing to be the "borrowers" or are they fully bringing the money to the table?

If I were considering it, I would need to see the projected insurance, taxes, maintenance/repairs budget, CapEx, professional services, vacancy assumption, etc.

It was a huge hit to my budget and now I am stressed out 

Make a budget plan and stick to it.  

Even with a hefty repair budget, this looks like a great deal.Since I can't get up to see it right away to vet it, what specific questions should I ask the realtor?

If I had a good project manager who could deliver 48 or 86 rehabbed house I could get them funded at 10% interest, I could find enough deals as well, getting a quality rehab done on budget and on schedule is a much bigger problem for me. 

A quick search on a box store site should give you a budget. 

Just to add my own two cents,  I have found that in multi family units that there is typically higher turnover rate so make sure you have a decent vacancy budget to use after a tenant moves out. 

We all started paying occupancy taxes, which increased the advertising budget for all forms of tourism,3.

In addition it seems like a lot of trees were cut but what worries us is the money we would have to budget.