We do have an annual cap in place to protect homeowners in cases of extreme appreciation.

Do you understand PE ratio or CAP rate?  

My cap rates weren't near what was advertised.

The location and price point you had a longer vacancy for would be a good cap for me to consider as we continue hearing inflation is continuing to creep up and that's squeezing everyone, which is, to your point, likely going to keep rent relatively flat for a few years.

It's mostly cap rates and CoC. 

They will be fixed for a short term then adjusted or renewed or they will be adjustable, there may or may not be a cap  rate, so check on the index and the spread as well.

Aking Price : $2.3 millionProperty TypeMultifamilySubtypeApartment BuildingNet Rentable (sq ft)13,400Cap Rate6.11%Pro-Forma Cap Rate 6.70%NOI $140,615Units17Year Built192813 1Bed/1Bath And 4 2Bed/1Bath Unitsin New Jerseyappreciate you thoughtsthanks 

Something that might also be beneficial to you, is a PM with a fee cap, such as $150 a month, that allows you to use the vendors you already have connections with. 

At one point, two of the caps blew off and into the alley below endangering the general public.

2) How do you balance upgrades/cap ex to protect investment versus over-investing, because it is not your forever home?