If the answer is yes, then it's a no brainer to make minimum payments on your 2.8% interest rate mortgage, and use the funds that you would have paid extra to pay it down faster, to either invest in more real estate, the market, or anywhere else where you can get a ROI > 2.8%.If the answer is no, then feel free to aggressively pay it down as fast as possible, to become debt-free faster, and just have a large amount of money in savings or to splurge with.The bottom line is that your 2.8% mortgage is GOOD debt.

The reason I ask is because most deals I see on Crexi or Loopnet or anywhere else create negative cash flow under 7 or even 10 year terms with 7% - 8% interest rate.

For the 10 year period spanning December 2014-2024, single-family prices in Austin nearly doubled, yielding an annualized appreciation rate of ~9.4% in that period.

My question would be is a 6 cap the going rate in the area for that building.

What is the interest rate on borrowing compared to the rate you are earning, then take into consideration the tax consequences. 

You get a Capitalization Rate (CAP Rate), which equals your annualized return by dividing the Net Operating Income (you had gross in your narrative) by the purchase price.

Unlike banks, which offer limited loan options, brokers have access to a wide network of lenders, including niche and non-traditional financing sources.Here’s what they do:Assess your financial situation to determine your borrowing power.Compare multiple loan products to find the most favorable terms.Negotiate rates and terms with lenders on your behalf.Guide you through the application process, ensuring you meet all requirements.Example: Suppose you have a lower credit score or unconventional income sources.

Things that AI won’t know:Market rent as isMarket rent renovatedCost to renovateSpeed at which renovations can occurLease up rate once renovatedInvestors learn all of this by doing work in their market.

I highly suggest you take a closer look at your numbers, particularly for a multi-family building which has added costs compared to SF homes practically everywhere in this country between STC ratings, fire ratings, storm water,  fire suppression requirements etc. 

Come up with terms (Down Payment, Interest Rate, and Amortization Schedule) such as a 5% Down Payment, a 6% Interest Rate, and 30 Year Amortization Schedule.