We were able to negotiate a buy down on the interest rates. 

Of course want better close rate but when those numbers I would be ok with 

Yea they would keep that in place and you'd get a second position mortgage for the rest at, well, higher than todays rates.

The "variables" you speak to could mean this is worth every cent of a 5.4% cap rate to "I wouldn't touch this for a 12 cap".  

There’s almost always a rate at which it just doesn’t make sense.

My suggestion is to find some real estate industry surveys (via CBRE or others) and look for the MF cap rates in various cities/states/regions.

You can't negotiate directly with a real estate agent about hourly rates because that's up to their brokerage.

With a low 4.75% rate but minimal cash flow ($50–$125/month), your equity could likely work harder elsewhere.

I’m having trouble determining the correct monthly rental rate for my property.

Quote from @Joy Daniels: I manage short-term rentals in the Sarasota area, and I'm always looking for innovative ways to boost occupancy rates year-round.From your experience, what marketing strategies have had the biggest impact on keeping your properties booked?