The alternative is to hire people who are green and don't have the experience needed to design out risk.  

Factoring in for weather (something we don't have in socal) Is a necessary step in the due diligence Nevertheless, for my long term landlording goals, I do believe that this will work.Thank you.

Of course being an architect helps with construction knowledge, we are the ones that design the buildings!

Another factor is what you are willing/able to manage.

The income the property generates is the key factor if a bank can qualify.

You forgot to mention that, the most important factor

It is a factor to protect your self by a lawsuit or a failure of your business.  

I would factor in other expenses as well such as water, landscaping, maintenance, vacancy, and capex.

Do you only care about the interest rate or are other factors like being able to bid online, how noticing is handled, are lawyers needed, the ease of foreclosing, the time before you can begin foreclosure etc etc all need to be asked. 

In addition, our properties are going to be made "purpose-built," a finished product thats specifically designed to attract today's college students with amenities that appeal to that demographic.