I've heard both sides and that some people say that we are still historically low when it comes to interest rates.

I just want to ensure that we request enough data from the seller that we are able to make an informed decision based on historical property data and not completely on assumption.

I think it may be useful to look at it based on how much future income i am going to have to give the owner to purchase.For instance say my city has had historic cap rates on multi fam in the 7-8% range, but I am going to have to go down @6% to get it done, so that is say $166k on a hypothetical $70k net property, or 2.3 years of noi i will have to give the back to the owner.Would you take this deal or stay un-invested?

Hi David - Have you spoken to your accountant regarding how these expenses have been historically allocated for any financial / tax reporting requirements that you might have?

For the time being, I am focusing my efforts around residential deals in the Shepard Historic District and Village area. 

I would think your a slam dunk at a bank.. but Visio is for real.and your smart to know that there are all sorts of fake lenders on the internet.good place to start is to see if they are licensed and then look up their license.. also dont let the tax dog wag your tail.. sometimes its best just to take your cash pay cap gains at these historic low rates then to buy something that is not going to do much for you.and if you don't get the benefit of no state income tax in Texas i would be cautious with that state prop tax's and other weather issues. 

Or diversify and invest outside real estate to increase returnes.I think it depends on where the asset is located IE here in Portland a red hot market and historically solid ( at least sinc e1992) or take the 50k and invest in the hood somewhere in the mid west.. me i would recast the mortgage.or take the 50k and invest in a reit or syndication deal etc.. and diversify or buy a performing NOTE that is solid and make 8 to 10% on that.then the thought is if you buy a rental do you want to do that for long term as this is work.

I have a reliable maintenance team and listing agent, and historically handle leases and rental payments electronically. 

The company does archaeology, historical preservation, and cemetery studies among a few other things.

I definitely agree with everything @Caleb Heimsoth said. 5.2% is very low as far as historical standards are concerned.