That's a good average (and of course if you already have a servicer in mind you can just use their figure).Ultimately, servicing does factor in, however when you start stacking performing notes the servicing fees are pretty negligible.

@Gary Wildey There are numerous factors, and a huge one I would echo is what @Michael Dumler mentioned: if you don't have a team in ANY market (whether in market or OOS), it can add another level of difficult to your investment.  

And I would factor in this is not just multifamily development, but any remodel.  

There were certainly factors that a round two would make us more successful, and we made money each month, but not the amount you hear about from others. 

-Lot-land new build: What additional costs need to be factored into deal analysis?

I believe a major factor would be your current equity position, and how much you can actually draw on.

So factor in another $450/month for management (placement of the tenant plus monthly charge). 

You are asking us to make a determination based on 1 of many factors. 

I know STR's that don't have pools don't perform nearly as well as one that does so factor that into your rental comps. 

There are a few companies that scaled the property management side of the business first before taking on investor capital and becoming a fully vertically integrated multifamily syndicator.