Cap rate is a function of market risk and rarely will change on individual properties. 

The FHA says that examples of such problems include but are not limited to the following: Missing handrailsCracked or damaged exit doors that are otherwise operableCracked window glassDefective paint surfaces in homes constructed post-1978 (because of lead paint hazards)Minor plumbing leaks (such as dripping faucets)Defective floor finishes or coverings (worn through the finish, badly soiled carpeting)Evidence of previous (non-active) wood-destroying insect/organism damage where there is no evidence of unrepaired structural damageRotten or worn-out counter topsDamaged plaster, sheetrock or other wall and ceiling materials in homes constructed post-1978Poor workmanshipTrip hazards (cracked or partially heaving sidewalks, poorly installed carpeting)Crawl spaces with debris and trashLack of an all-weather driveway surface=================There are many areas, however, where the FHA does require problems to be remedied in order for the sale to close.Electrical and Heating The electrical box should not have any frayed or exposed wires.All habitable rooms must have a functioning heat source (except in a few select cities with mild winters).Roofs and Attics The roofing must keep moisture out.The roofing must be expected to last for at least two more years.The appraiser must inspect the attic for evidence of possible roof problems.The roof cannot have more than three layers of roofing.If the inspection reveals the need for roof repairs and the roof already has three or more layers of roofing, the FHA requires a new roof.Water HeatersThe water heater must meet local building codes and must convey with the property.Hazards and NuisancesA number of conditions fall under this category.

Is it based off of features (like having a fully functional kitchen and separate entrance), the share of utilities, intent, or all/none of the above?

I deal with this issue by creating an operating agreement under which the LLC can function.

The app functionality might be different from the desktop/browser one - try edit your profile from there.If you are new to BP, you might want to check out the starting up section.

I think you will get a lot of value by listening to quality podcast and other educational functions.  

I am considering using slydial broadcast to send a pre-recorded voicemail to these numbers saying "Hey my name is Johnathan I live nearby in (city). 

They were rusty, but functional.  

The age of the property doesn't always mean things aren't still functional, and safe.

Hi, Sorry I wasn't familiar with the website reply function, so I replied to your helpful reply in the post itself!