This gross number is higher than my commission on the units they service, however it does not phase me. 

So you cannot just look at industry Cap rates alone unless you understand an operators abilities for higher yield on costs.BAM Capital is becoming an institutional investment company in multi-family Real Estate with Brokers.

Higher interest rates but it lets you get your foot in the game if you know what you are doing. 

Most of us will go even higher...say 85%...but you have to get the property to cash flow at that level.

(It sounds like you might have done that already) If you have a realtor in that market maybe ask them what the comps are for your unit to make sure it's not higher than you expect.

I feel confident we will have it occupied and possibly at a higher return than anticipated at closing.  

We started raising the rents on the 3 and 4 BR units until the rate of leasing slowed to a normal pace.Fast forward two years and we found ourselves with higher vacancy on those same units. 

A little higher than normal per FB.

States like CA, NY, CT, NJ, MD are notorious for high sale price homes, higher taxes and hard to cash flow.

So, its interest rate is irrelevant and likely HIGHER than the refinance rate anyways.