The most important macro level factors that I consider are 1.

My name is Cyrus and I have experienced in project management in interior design and home remodeling industry but not in US.

Thanks Cerwin, I'll certainly take those factors into consideration.

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.

(I am an apartment manager, graphic designer, web designer, social media expert, publicist, writer, festival planner and very connected person in Tacoma). 

In my eyes all the renovation costs will be paid from the proceeds of the building so it only becomes a factor when I want to sell?

I can get $600/mth to rent to artists / designers / photographers ...without it the deal doesn't make sense.

The price difference between the city and the suburbs seems high but there seems to be a lot of other factors.  

Finally, have you factored in maintenance on the property?

How do you determine a selling price on a rental that is turn-key --- Are other formulas or factors involved for markup?