We (the AMHPTA) know this as we got a "cease and desist" order in which it stated we banged on the door and tried to push our way into his apartment when he answered.

@Chris Pratt Since single-family houses with ADUs are not considered commercial properties, they are not priced based on income or cap rate.

Most counties have a cap and there are a lot more regulations around short term rentals.

A lot of people tend to mingle these things when they talk about "break even" or "cap rate", but that leads to a lot of confusion.Let's use some real numbers which may be easier to understand. 

Check out Paul Jang, Victor Reynolds, Elijah Bryant there are others out there who aren’t as BIG as Joe who will give you more bang for your buck and are still accessible.

Reminds me there's a 3rd floor apartment with a water heater I should definitely check on...ugh...Yes, I'm in the same boat- older properties that probably had higher cap ex repairs deferred. 

So, comps can help with figuring out local cap rates, then you need the income from the property to determine a value.

You can increase returns with leverage (that is a mortgage) or with value add (renovations, additions etc).I think cap rates (rents minus expenses divided by purchase price) on commercial and industrial is higher with less work involved, but its more expensive than I can afford--so I know next to nothing about that land.

My main Partner is Chase because gives the biggest limits great when it comes to building a relationship and getting BLOCs and other things also would recommend local credit unions biggest thing you always need to figure is the banks Cap of what they are willing to lend until they need everything Chase for example is 150k Citizen Bank if in area a great one for Blocs only require bank statements to calculate how much you can qualify for.

While I know Brandon and his team has experience, the going in cap rate is very low for MHP (I was told mid single digit).