Have only worked with balsa, basswood, red cedar, and mahogany. Of those 3, mahogany has yielded a few suspenders. Getting a lure or stickbait to suspend horizontally is not easy. And just getting a bait to suspend period is not easy! It is a fine line, but nothing wrong with slow sinkers, or slow floaters.
The smaller the bait, the trickier it is. To get a suspender, the amount/distribution of weight is more art than science, and more luck than art...(all my lures are difnt, have not zeroed in on perfecting a suspender on the same shape/size body)
Perhaps something more dense than mahogany would work better? Then you would have less weight (variable) to experiment with. Plan on an iterative process.