@William Murrell  The LLC one is exhausting because few of the people asking have meaningful assets to protect, which is the most relevant factor in answering the question.  

Most of my leads that I mail to are extracted through Rebogateway and are all in tax default.

Maybe you already appreciate the point, but hopefully that illustrates why the original question, while grammatically correct, is not really a logical one for most people to ask - "Better" CAP rates is a non-meaningful concept.

My WHY is to spend more meaningful time with my family, travel the world, and give back to my community.  

Off the top of my head, I would say 80% of the homes we renovated get new roofs and new HVAC, which is a deferred expense of 15 to 20 years, to which at that time, the tenants have paid down the mortgage enough and time has played its part enough for the owner to have the option to extract a little equity out to replace capital expenses instead of sacrificing 48 months of cash flow to replace AC, Furnace and Roofs.

It will eventually work itself out in the long run, but this generally has more to do with "buying right" and making good decisions than extracting equity per se.Another possible reason to take equity out of a property is as a legal deterrent.

If it's any consolation, if they paid a locksmith to replace the entire lock rather than just extract the key, they got ripped off

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If the property next door to yours, and the one on the other side, and the six other comparable assets which sold in the neighbour during the past 12 -18 months averaged out to a market CAP of 7.5, then you know where your property will need to be priced (within 1 -2 standard deviations depending on where in the spectrum you determine the property fits) when it goes to market.CAP rate are only really meaningful when  you are trying to set a sale price in a given market - we don't even look at them when we are purchasing.If you read my post above, you will see I suggested finding our the market cap rate to garner an idea of where the stabilized property should be priced when it sells.BTW:  GRM is another single-point-in-time ratio that, on its own, should carry no more water than a CAP rate in your analysis. 

I have always been interested in working with and helping people and creating meaningful relationships.