I chose that because that seems to be the norm in my area (although the big apartment complexes mostly seem to do much less, like $100 deposit and sometimes no pet rent).

Is it common to assume less risk and lower costs if I would master lease an entire 20 unit complex on a modified or NNN lease. 

You will have to dig into each of these to pick what features you want/need.

Some other features landlords commonly look for:Automating late fees (the level of complexity you require can impact the software that's a good fit)Logins for multiple employeesDedicated mobile app for your tenantsFull accounting features OR alternatively, integration with your preferred accounting platformDigital document signingTenant applications and screeningAgain, depending on which of those matter to you, one software will be a better fit than another.

Towards the end of the year/early 2021 I'll be looking for hotels, mobile home parks, self storage units, and apartment complexes in B/C areas.

What is the typical target cap rate/IRR range for a hospitality, retail or apartment complex?

First is, if it meets some basic conditions, you can actually finance it out on a 30yr amort... second, it's a great way to leverage traditional housing finance to access land that has tons more options, particularly if it has other value, such as on or near a corner of two major roads, adjacent to desirable features like waterfront or views.

There is also the search feature on here, but its lackluster without a paid account.  

There are also neighbors in the complex who can check on things as well as HOA who will let me know about violations if they are happening vs. a sfh, I am in the dark unless I actually go by to inspect it.   

But what we have built on top that is a huge complex shell game that we have no option but to continue because everyone is invested in it.