As a market matures a real estate investor likes to become patient and choosy - two characteristics that may not be compatible with a board of directors of a  publically traded company.

Based on Craigslist it looks like luxury 1bd apartments are renting for around $1,250/ month in that area and non-luxury units are closer to $800/ month.

If so, then Fundrise is all non-accredited offerings, so there are a lot higher fees than you can find in alternative accredited investments.

I have read a few threads here which suggest that this information is public and can be found on the county website.

I am now a retail real estate agent (and I privately manage SFRs for owners), the trustee sales are almost over for the mid sized flippers around here ("my" money is buying non-performing loans, better returns on time and money). 

Try to look at publicly traded real estate developers, they may disclose some similar project budgets, but be aware that doing a project of that scale requires and lot of political connection which may increase or decrease your cost.

The 25% convention is a non-owner occupied loan and does not require you to live there

For commercial, you'll actually have to call local banks and establish a relationship and explain who you are and what you're doing, etc.The final point i'll make about your strategy is about recourse: typically, residential loans are "non-recourse" which means that they are collateralized against the one property, but not  your other personal assets.

Below is a publication the IRS put out to understand the taxation of rental property.https://www.irs.gov/pub/irs-pdf/p527.pdfThe IRS describes that charging a family member rent that is below market rent is considered a personal day.

Our title company does not close any of our deals until they receive the "special assessment" reports which will outline any fees charged by DNS(dept. of neighborhood services) for code violation non-compliance, special work done around the property etc....