Mortgage rates and PMLs are 8-12% plus points right now so the deal has to be a low enough entry. 

@Michael HoustonSo cap rates are for commercial properties so they have no use in 1-4 unit values.

The main reason I decided to sell rather than hold was the rising interest rates.

Plus I recently got a brand new calculator, wanted to see what out of state investors though the most important aspects of deciding between to similar rates cap rates in 2 varied size apartment. 

Quote from @Roger Flot: I was reviewing some renovated listings in my area and one indicated that even though the house was originally built in 1920, because of all the renovations bringing the house to current code, that you could get 2024 rates on insurance. 

Typically this means they will take longer to close, may not have all the information for the companies they work with, and most hard money brokers get their money by taking an existing product and adding extra points to pay their fee.What is your investor success rate?

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

The monthly payment is only ~$720 and the interest rate is fixed at 8% fully amortized with no balloon. 

So this is creating more competition and more agreesive rent rates and/or concessions like 1 month free to get those vacancies filled.

My agent is currently finding best rates with Travelers.