Gainesville FL for MFR investment

[John Abraham]

Hello All,

Am an out of state investor interested in a 8 units MFR apartment for purchase. The property is located in SW, around 5 miles from university.

50% sec 8 tenants , 25% other gov assisted programs and the 25% is non-assisted.  

Seller claims 10% cap rate on a mid-6 figure listing price due to the rental income.

What does BP feel about this investment?  What is property tax % in this area?