As others alluded to, I'd look into some longer-term loans (30 year amortization) and options with lower rates.

Usually the greater the financing, the greater the return as your investment is lower. 

The middle and lower class citizens will be priced out of expensive markets.

If you are much lower than that, you run the risk of going upside down very easily if any of your expenses increase. 

I also acknowledge I live in a lower cap rate / higher appreciation type locale so that can tweak the strategy slightly.

Here’s a finished flip property a few blocks away from the one you’re looking at:  https://www.redfin.com/WA/Tacoma/227-S-38th-St-98418/home/2962336You could probably rent as-is, but would likely get lower rents and tenants. 

I have heard that there are plans in the works to lower that.  

They used the appraisals I paid for-not my total cost (which was much lower).  

Buying and house hacking, or owner occupied multi would lower my rent.

Just had an appraisal done on a property and the square footage came in 587 square feet under what the tax records list.Still appraised for the full asking price at the lowered square footage.