The rates are usually broken down by rating factors such as Location, Fire Protection, Age of dwelling, type of vehicle, etc.

We would have cash flowed 200-300 a month on that single family and made 12K-20K on the flip (depending on so many factors and it would have been our first flip).

Meanwhile, the relatively scarce individually-owned units are still priced relative to non-commercial RE market forces, including, among a variety of other factors, a lack of traditional financing options for the individual units (because of the predominant non-owner-occupied / single-corporate-owner circumstances within the complex). 

Don't simply think through total rents you'll receive minus your PITI to the bank, but rather you'll want to factor in management fees (if any), Condo Owner Association fees, maintenance and repairs, other utilities, and a capital improvements set-aside for the inevitable things you will need to improve over time.If you're looking at the income minus these expenses and still coming out with a cashflow rate that you are comfortable with, then the only question left to answer is:  are you comfortable with the risks associated with Condos?  

I definitely agree regarding the fear/emotional aspect playing a huge factor in my decision and lack of experience when it comes to selling and what may cause a buyer to become non-interested in a property.I know if I get the right tenant which so far I have been lucky enough to do, these concerns are no longer an issue.

This is a big factor if your tract isnt large enough, because the detention requirements can eat away at acreage.

Also as mentioned earlier, the down payment is not mine and will be paid back at 0% interest so I'm slightly confused if cash on cash return plays a big factor in this deal since once they're paid back, I won't have any cash in the building.Thank you so much for any insight and help with anything I may have missed!

The other factor here is that having an agent (who is getting a commission) and then a wholesaler who also wants a fee all in the middle between buyer and seller creates a convoluted transaction and hinders the opportunity of a good deal for the end buyer so please keep this in mind.

Experience is another factor that will affect the LTV; for the most part, if you have 3 or more flips in the previous 24 months a 680 or greater FICO and cash reserves and the deal is at 80% of ARV or less; you should be able to access 90%  of acquisition and 100%% of the rehab. 

So many factors go into this.