This includes thorough physical inspections by qualified professionals.

I’m a 29-year-old Marine Corps veteran and brand-new to real estate investing.

For houses most tenant already have units they bring including luxury houses.

That is in effect what you are doing and f you do not include PM fees in your underwriting.Your maintenance/cap ex fees is likely too low by a factor of 2.You are missing the misc charges like asset protection, bookkeeping/accounting/tax man, utilities due to property issues such as by a slab leak, legal/evictions, etc.The 50% rule is aggressive at this rent point and projects $82/month of cash flow.  

I believe every appraisal has included an income approach for reference only.  

Quote from @Shuchi Gupta: Hi BP community,Looking for real-world experience from multifamily owners or investors who’ve done a panel upgrade.I have an 8-unit building in Santa Clara, CA, and I’ve received 3 quotes to replace the main service panel & meter bank (9 meters total, including common laundry).What differs across the bids:600A Eaton meter bank Square D panel but amp size not specifiedOne bid includes the laundry subpanelSome bids don't include permit/engineering/stucco patchingPrices range from $19K to $38K some not including permit fees.Current setup:1960s buildingGas water heatersShared laundryUpgraded kitchen appliances over timeAll tenants have window AC units, No EV chargers yetQuestions:Did you go 250A or 600A on your small multifamily upgrade?

I am a brand new real estate investor looking to purchase my first property.

By contrast, closing on the 1st or the 30th/31st can create awkward first interactions—you’re brand new to them and immediately discussing payment.

My problem is if im going to buy a place it'll end up much further away because i have no desire to own anything in the markets around me including the 3 hours away.  

One brand is just less than 1/4” for about $2400 and the other is about 1/2” twice the thickness for about $3300.