Based on the Opex the seller's agent provided it's $134k which implies the Opex ratio is ~21%.

It allows you to easily scale your business without having to switch bookkeeping/accounting softwares.

@Phillip Rosin - Based on the info you provided, I recommend that you start with a Fix to Rent short term loan to purchase the property and rehab it, followed by a cash out refinance into our DSCR loan.

This painter previously corrected a poor drywall installation of 2 walls and painted with Sherwin Williams small drywall, which looked  good to my untrained eye.  

Since you'll be using a property management company, either way, buying the property base on profitability vs location might be the better option.

I have been offered an exclusive Deal by a local "friend"/ semi-mentor in my small town.  8 standard 2/1 apartments -  Quad, duplex, duplex, 1970 Dated buildings, little neglected but liveableOwner finance: 20yr 6%rate with 20k down------------------------------------------------Total purchase 400KCurrent NOI: 41k     Cap: 10         (Tax,Ins,Maint, Util)Gross rent 4500/mth-----------------------------------------------Upgrade, Est repairs: 60k After reno: NOI: 59K   Gross rent: 6100------------------------------------------------Loan pmt: 2865/mth,    34k/yrCurrent Cash flow: 531/mth,  6,378/yrAfter reno Cash Flow: 2131/mth,  25,578/Yr-------------------------------------------------Added info- -Property line Joins with (growing) Community college-Tiny town-The Buildings are Currently "uglyish".- Current Rent is 150$- $200 behind market avg.I am very comfortable in single family homes in this town (own 18 SFH rented and performing well).

They are based on sending tens of thousands of pieces of mail to get deals. 

After a tenant has been evicted in Washington County, MD, and there is still an outstanding balance even after applying the tenant’s security deposit, are my only options for collection limited to small claims court and utilizing a collection agency?

Base things like heat on the relative sizes of the units and water on the number of people living there.

I think you are likely in way over your head in the scale of your thinking.