Thinking more about it, a SFH does seem to be a better fit toward what i am looking to achieve.

I’d hate to step into a major unit supply overflow issue causing downward pricing pressure on achievable rents.

Update: one of my goals this year is to optimize the process.

That is simply the fact in many markets right now you can't find a property that meets the common benchmarks we strive for.The question for us becomes whether or not we are willing to accept less than optimal returns or if we remain disciplined to strike only deals that check all the boxes, even when it seems that they don't exist.

@Elizabeth LeeHi Elizabeth,I have known owner(s) with very high net worths and years of experience who from time to time could not make commercial A/C happen when it was optimal. 

the risk though as you state is you have folks trying to do their first one who don't live anywhere near the project.there is a reason most banks wont lend on construction projects to anyone who lives more than 100 miles from the project .. they learned this over a very long period of construction lending.and your right the spreads are simply not there to achieve the perfect BRRRR  locals can probably get it done. but out of state pretty tough.. to very rare.. so then if your leaving equity in ..   

Make sure they don't tie each of you to the full loan amount, but instead tie your share. 2. 80% would be max, but difficult to achieve.

Therefore it actually IS time-intensive, and takes frequent changing of prices/ scanning the market for comparables/ analyzing supply&demand, etc. to optimize the occupancy/pricing mix, not to mention a bunch of other small strategies to maximize profits (I can run you through a couple if interested). 

Make a goal and be very serious about putting money towards that goal every month until you have achieved it.  

All of this will not stop me from achieving my first deal.