Two, your broker may have more stringent advertising requirements than the law itself.

Most SFH and small multi investors don't use cap rate, that's really more of a commercial measure, but you could use it if you like, just be consistent about how you calculate it and come up with a number that works for you.

Both rented and positive cash flow.Subject Property:  Traditional detached SF property in NJPurchase amt 410k10% down (don't have funds to do 20% unfortunately)While I am confident in my mtge guy, for prudent measure I wanted to check w/ the BP community to confirm the following..Freddie:  'My income is too high' (Can certainly give figures, but not sure how to break it down.. 2017 salary + bonus; Rental income, 2018 salary formally approved and documented, but not effective until July; and 2018 bonus (which I have received already)FNMA:  'To get a second FNMA mtge, I need to put down 20%' (which I would like to do, but cannot come up with an extra 41k)FHA:  'My only option' (with the 1.75% upfront PMI and monthly PMI for life of the loan). 

These two measures have afforded me extreme unit uptime.

For long term you should measure your IRR (internal rate of return).

I might miss out on some opportunities, but it's the measure I chose.  

Here is the text of the article in case you can't see it:By Ben van der Meer – Staff Writer, Sacramento Business JournalFeb 22, 2018, 4:43pm PSTIn a sign that escalating rents in the city of Sacramento may have reached a tipping point, a group has filed with the city clerk’s office to collect signatures for a rent control measure.The ballot measure would allow rents within the city to rise by no more than the percentage increase of Consumer Price Index, with a baseline set at the earlier of Feb. 20 or whenever a tenant first occupies a unit.A notice of intent to circulate petitions to put the measure on the ballot was filed Tuesday.Landlords would be able to evict tenants only under certain circumstances, such as failure to pay rent or violating lease terms.

I didn't measure but by my photo probably not, but not a difficult fix.One side of the house needs minor grading, the rest is fine.

On the conventional side I've found the 2 months waiting period to be rather stringent. 

And perhaps then consider buying an investment property which would actually cash flow.If you do decide to keep the condo I would be very stringent in screening your tenants because you can’t afford to carry two mortgages if your tenants stop paying or to repair significant damage or they were to damage your home.