Many Multi-family properties now in debt service trouble as the GPs took out very risky 2-3 yr floating rate or adjustable loans so they could cash flow after buying very expensive 3Cap apartments, which loans have gone from 1.5% to 5% or higher, and knowing that obvious and predictable risk since every primate could see mega-inflation coming in early 2021 due to more money printed in 2 yrs than first 200 yrs of country, They "smartly" took out Rate Cap insurance, (cost 50k for a 12 month policy on 10mil loan to cap variable insurance rise about 1-1.5% above the origination level) but now that US 10yr up 10x from 0.31 in 3/2020 to 4.2%, that same insurance policy is 1.5-2.0 million not 50K, so They can't cover the much higher debt service nor buy new cap insurance without shutting down distributions or capital calls.

If it was a primary it would be different but HELOC's on investment properties have crazy terms and typically you're still capped at 75LTV. 

In the long run because of rent caps, I was able to rent it for more and that essentially made back the money I 'lost' due to damage and unpaid rent. 

You can obtain a 12 cap or better. on this type of situation.4.

Do you have any thoughts on using land comps as a way to value purchase price of mobile homes vs other methods like direct cap etc?

If you put it out there asking for a 3-5 year lease with a small business or startup in your mind, but H&R Block or Supercuts comes along asking for a 10 year NNN (& it's corporate) and agrees to the rent amount you requested, there's no reason not to entertain that, you got better than what you were expecting (there's a reason NNN properties, or ones with a few NNN tenants sprinkled in that are national chains, often sell for lower cap rates), it's not like taxes or hair cuts are going obsolete any time soon. 

My numbers don’t include cap ex, maintenance or vacancies.

Other than cap rate and cash flow, what other metrics/calculations do investors use to determine whether or not a property would make a good rental?

Single family homes regardless of market  are very inefficient to operate to begin with but the lower price point homes are disproportionately impacted by ordinary upkeep maintenance, repairs and cap ex because they struggle to absorb these costs (some of which are fixed or close to fixed regardless of whether this is  $100,000 house or $300,000 house). 

And those 2 years do not need to be the most recent years, nor do they need to be chronological ie you can live in the property year 1 and year 5 and have it rented years 2-4 and still avoid cap gains, or you can hold the property another 10 years then move in for years 9 and 10 and still be okay to sell it.