Hopefully you all can help me put together the pieces of this puzzle so I can determine whether it is feasible at this point in my life.There is one piece of property I have specifically been eyeing.

We can help you with any part or piece of that puzzle, or just if you want a second set of eyes on a deal you are looking at with someone else, give me a call!  

So I am puzzled. 

Cap rates are just one piece of the puzzle and will never tell you the full picture of the deal.

The other piece of the puzzle is repairs and estimating how much things will cost.  

I can say that in my area, a new kitchen spend of say $12k will absolutely bring an appraisal higher by more than that in my areas.That said, the appraisal is only one piece of this puzzle as the rent ratio of old vs new kitchen is of more importance than the appraisal difference. 

The one we're using is great but he/she is a good seller's realtor in my mind and wasn't really forthcoming in good ideas about the whole process, what a good rent might be (still a bit of a puzzle in my mind), etc. so I'm looking for a realtor that might be more BP minded and have experience with REI from my perspective and have good ideas and be willing to share them somewhat as a mentor.Thanks for any advice.

If I can solve this first puzzle, the future projects become so much simpler!

There's always a way to get a good deal done, but being that I'm just starting out with very little capital or experience of my own, my options are limited and this puzzle is more complicated.

Top 9 pieces of the Real Estate puzzle are:1-Potential for helping others.2-Use leverage to keep cash in your pocket for the unknown.3-Ability to raise capital is unlimited.4-Focus on the controllables and invest smart.5-Long distance investing is over-hyped.6-Requires more cash than you think.7-Get started ASAP.8-Pareto Principle-80% of effects come from 20% of the causes. 9-Don't worry about all the nay sayers: market crash, etc.Thank you to all who participated in our unofficial survey!