My current 90 home project in Oregon was like that Farmer owned it for decades And when we bought it for 7. 2 mil cash they did not even do a 1031 just paid their cap gain and called it a day.www.ivyridgeestatescanby.com  is the project and its been a winner.. albeit a few years behind schedule with pandemic and lumber and every other impediment.. ( could not get garage doors for a while :)  ) So hopefully if anyone actually reads this and has interest they will see the benefit of learning how to go into the cities look at long range planning get to know the long range planners identify movement we can all do it as small investors we do not have to be big corporations 

You will have basically no maintenance/repairs/cap-ex for at least long enough for you to raise the rent and even refinance.

If you are in fact referring to gross rents, then yes you can get gross rents well above that but after all expenses, includeing debt service, PM, maint, cap ex reserves etc, a good deal is about $100 - $200 a door in pure cashflow. 

Or if the intention is to long term buy and hold but those plans change and the property is sold after 11 months, is still long term cap gains (if there are any cap gains, probably not in this case unless improvements were made)?

I would suggest passing on this one and looking for one that has a better cap rate and can be forcibly appreciated through renovations.  

For example, the Qualified Charitable Distribution cap has been indexed for inflation and now stands at $105,000.

The short answer if she has just received her voucher is no, they won't budge on their cap for what they will allow the initial rent to be, at least not without extra hoops.

Increased interest rates over the last 2 years and increasing cap rates have put downward pressure on multifamily values.

Another benefit depending on the seller's tax situation is that they can spread their cap gains and depreciation recapture tax hits out over several years rather than paying it on the lump sum in a typical sale. 

cities with higher 'cap rates' (in the simplest terms: the gap between the rent and the purchase price is smallest), are mostly gonna be in the midwest & disperse out from there. there are obviously little pockets / hidden gems outside this area though. but if you're gonna have to live in it for a bit, where would you wanna live?