To them, I'm sure I'm some fat cat investor--not just someone else holding a mortgage, trying to do better than watching my retirement IRA dwindle away.  

Otherwise be prepared to eat the carrying costs.

We are looking at a property to purchase with this unit mix, and we are concerned more about renting the 3+2 as opposed to the studios when a vacancy comes up...I rent studios all of the time in the property management company I work for, but we only have three 3-beds in one of our buildings, but it's a large building and a 3-bed vacancy won't eat up much of the vacancy rate.  

Or give them a bit more than that off and eat the difference.Personally I've been subsidizing the heat costs a bit with a winter rent discount, my fault for procrastinating.

As any SFR owner will tell you, those costs can quickly eat through the security deposit and then some.There are a lot more things you'll need to account for, but off the top of my head, the above expenses are a starting point.

At a local level or federal, your residence needs to be a place where you can eat, take care of physical needs, sleep, and keep personal property for your existence as well as a place to be notified by government.  

We have received a good offer for it, and feel like we can do a lot more with the funds, rather than letting inflation eat it up over the next 30 years

All of these, "oh I struggled so hard, I was at my wits end, you would never believe how broke I was..." coming from people who have really never; lost it all through medical disaster, theft, con, whatever, where you are disabled, living in the back of a moving van with your wife and children, wondering just how and where to find something to eat.

Had mine on the market SEVEN days and got into a binding war.Remember, you can't eat a cap rate no matter how good it looks, but a good cash flow BUYS a lot of toys. 

E.g. one month of vacancy can almost eat into all the profits from previous year.In today's market, I am inclined to invest more in multi-family properties where an experienced investor is managing everything and I am just an investor.