I went out to do a walk through of a property and afterwards my coach had me send him the photos and he basically informed me that the numbers wouldn't work if we offered anything over 45k, but I have no clue how that number was derived.

In all states I'm familiar with, you'll have to register the LLC as a foreign entity in the state in which it is holding physical assets or deriving income - the second state wants their share of fees and taxable income.

The income that is derived from financed portion of the property is considered Unrelated Debt Financed Income (UDFI) and is subject to UBIT (Unrelated Business Income Tax), which tops at 39%.

Income will consider market rents for similar properties with similar utility to determine an appropriate market rent from which to derive a determination of value.  

I won’t bore you with the math to derive correlations, but I will explain a bit on how to interpret them.

Went to electrical apprenticeship, worked very hard, against natural inclinations because that's what market demandedIronically, I will now, after many years of wilderness training, begin to write.I am just ordinary guy that made itI understand derivatives, options, syndicates  and if my old man gave me that mindset at 18, I would have created corporation and raised capital and been another trumpIt didn't happen.  

So if you don't have direct NOI information from the buyer or seller of each sold property you cannot derive a cap rate. 

I pay my guys $25-30 an hour or some derivative of that.

I think we both agree CAP rate is a meaningless metric to value a SFR, if one is testifying as an expert witness in court, as it is not the metric by which value is primarily derived from when it comes to SFRs for the market as a whole.  

I included the formula for cap rate more of just a way to show where cap rate is derived from.