The cap rate is one tool among many and this one is really only able to give an apples-to-apples comparison about the sale price across multiple commercial properties.

I wouldn't touch anything outside the urban core. if your strategy is to buy existing and old I'd recommend not to. as a newer investor depending on your liquidity look at build to rent development. building investment properties below market value by 25% and refinancing out of it to do it again. the urban core has tax abatements as well that are 15 years right now you can apply for. that means that taxes will be around $600 to $800 per year. there's cash Flow but the existing inventory market dried up a few years ago in the urban core. local realtors are going to push you to the trash areas like hilltop, south linden, etc because it's the only place numbers work. columbus is great, but remember a tenant who pays $1800 a month is different than a tenant who pays $900 a month. let me know if I can help any other way! 

Purchase price: $15,000 Cash invested: $25,000 Sub to deal - paid the seller and wholesaler $15,000 + $7500 closing costs to assume $84,000 mortgage with a monthly PITI of $575.

Do you want to be an investor.

Other than that, does the house you're looking to buy offer the ability to rent a room or level of the house to someone?

Welcome to BP Frank and best of luck investing!

You could have your insurance cancelled but more likely you're going to see a rate increase.

You’re already way ahead by getting started young—keep going!

The brokerage should be very glad to have you onboard.I'm looking forward to your future posts as you share your success. 

I might not be very regular here but I'll continue to post about my experiences and learnings as we go.