How much should an investor pay for multifamily?

[Lawrence Mangalindan]

Hi everyone,

Newbie here, I recently figured out that I'm gonna niche on Rental Property to get my feet wet on investing because I'm after the cash flow. I know it's all gonna depend Property Tax, CMA's and other outside factors but I just want to know when comes to analyzing deals how much should the sales price be, taxes, interest rate etc. for a multi-family (2 or more) units if you want to get a 6-12% cap rate, at least $100/door. Please give me a ball park here assuming that you are gonna use the 50% rule. I'm trying to get one on a decent neighborhood here in Chicago and Chicagoland Areas and a lot of apartment buildings are real expensive. Truly Appreciated!