As such, CMBS rates today are relatively high, with most full leverage loans in the 5.0% range as of this writing, when compared to other lending alternatives.

We do have a 0% down mortgage program for first time resident buyers (that can only be used once), but the property purchase limit is $200,000 and it is difficult to find multi-unit properties in this price range - unless they are in a C or even D area.

From this data, you can utilize a website bestplaces.net that will give you a breakdown of the percentage of homes that sold, in various price ranges, for a given zip code.

As I mention early in the book, the price ranges in the Estimating book are good for about 80-90% of the country, but certainly places like sourthern California are going to be above the high-point of the ranges. 

I've researched apartments.com and have called area apartments to determine rate ranges.

In that price range I would look in Fort Worth.

I've found that in the $600-$800 range per unit the housing authority is on par with rents if not higher.  

In the price range you are suggesting I am thinking you are building something in the 1200 sq/ft range.  

When you wrote: "Rent would be in the $1300-1350 range", are you saying that they are currently ASKING $1600 - $1750 (or, is the "normal" rent $950 - $1000)?

The concerns introduced to me yesterday were that city inspectors could fine very severely for improperly dealing with such hazards and that abatement and other procedures can make a deal in my price range unprofitable.