Charge the tenants a higher rent rate and include utilities with their rent.

You only want to file a claim if it's much greater than deductible or your rates shoot up pretty quickly. 

I recently opened a HELOC and I recall it's at prime for the first year (7.5% currently), and I only paid minimal closing costs.PML or HML I would expect rates >10%, plus points, possible prepayment penalties etc.

Since you are new to the market, you can look at what the top rent pulls look like and cater accordingly on the design.You always want to build relationships with contractors, but that takes time and you always need a solid bench, just like in basketball because some days your starting plumber just doesn't show up and you need to bring in the backup.The rates are the rates and they aren't going way down soon so it's just part of a different metric to evaluate in your new market.Good luck!

Overall nationwide cap rates are rising because of interest rate increases.

After paying a competitive rate for the property management and ASSET management that the small operator does himself.  

The landlord shall not commingle such moneys with any other funds of the landlord or hypothecate, pledge, or in any other way make use of such moneys until such moneys are actually due the landlord;(b) Hold the total amount of such money in a separate interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants, in which case the tenant shall receive and collect interest in an amount of at least 75 percent of the annualized average interest rate payable on such account or interest at the rate of 5 percent per year, simple interest, whichever the landlord elects.

And now with rates being high, plus many areas overbuilt with new apartment buildings, I’d be careful with unknown areas, and also what you read in the media about “hot” areas, up and comers, etc.I was in a similar situation to yours a couple years ago.

Rent growth is a function of supply, demand, and interest rates:- I'd ground any forecast by stating I expect national rents to rise on a pace more or less in line with inflation over any long time period. 2-3% per year.

And the values like all rentals will just track the rental rates and what an investor is willing to pay for a return.