I disagree that it is to get around usury laws in Georgia, since the legislature caps it at 5% per month, simple interest.

Doesn't the cap rate depend on the price, as well as the price depend on the cap rate?

Value for a MHP is NOI / 0.1 (10% cap rate) for a well run park.  

Would you happen to know if property taxes have a cap the way variable mortgage APRs do?

Stuart only has a few area's that have a decent cap rate like "golden gate" which is a lower income neighborhood.To the op's question, affordable housing will never go out of style.

They actually give you up to a cap and waive the 20% financing requirement.

I'm curious to find out what folks expect as a reasonable cap rate here.

Mortgage on $375K based on 4% for 30 years is $1,790Total Yearly Expense is $29,410 and Monthly expense + Mortgage is $4,241The property is giving income of $5200 a month from all 4 apartments, with monthly Cash flow of under $1,000 a month.Even that Cash flow look very good, the Cap Rate is only 6.28% and COC of 7.67%.Also owner is offering to "hold mortgage for balance" - what does that means?

7% + CAP rates here in Utah a.k.a.

I have noticed cap rates on 6.25 to 7.50 range.