Properties also have specific risks depending on if they are industrial spaces, commercial buildings or multi-family units.

The one percent and 2 percent rule ive never looked at ... cap rate is .. meh .. its there - what im most concerned with is the price of the home relative to comparables and cash on cash to start.   9)  I look  the other way if it is a multi unit that is not separately metered - thats always one of my criteria here in pgh as there are a lot of older homes and a good portion you wind up worrying about who will cover utilities.  

Dealing with commercial financing is such a PIA compared to a single family home. 

If you’re looking to invest in your backyard, it helps to network with as many locals in the industry as you can.

Compare that to the seller's staffing matrix and make adjustments as needed. 

Fast forward my entire career has been in construction from residential to commercial to industrial. 

They typically have multiple origination points (meaning very high closing costs) very high rates (compared to conventional but also compared to 6 month or longer waiting period DSCR products) and almost always have VERY long pre-payment periods up to 5 years.

It's likely, you are being too tight on your comparables or not searching correctly.

Double the maintenance and capex on a 40's built home as compared to a 2010 build home and then let me know if it cashflows that much better. 

@Chris Blackburn, while I can't speak to this specifically, there are a few red flags I see in your post.1: A Realtor has to be a member of the national association of realtors, an industry trade group primarily focused on your typical home buyer.