He and his wife live off of their rental income which is 100% SFH derived.

I guess I was getting a little bit ahead of myself when trying to get creative and derive value.

Insulation derives it’s R-Value from the thickness of the insulation.

I currently work in financial derivative compliance and regulation, so hopefully my specialized knowledge will be of benefit to the community at large.

They know the longer they are in existence the higher their cap ex estimate number will become, but they still estimate based on their past actuals knowing it is under estimating the life time cap ex (and yet I still claim they are one of the more reputable in part because they are honest about how they derive their maintenance/cap ex numbers and if you ask they will admit that long-term it is under estimating the real cost). 

NOI is always a heavy component when deriving a value based on a sales comparison approach or income capitalization approach.

If you own any real estate, equity, derivatives, commodities, or even debt - The ownership on these assets is more than likely to be recorded on a distributed ledger (blockchain) and be represented by security tokens.But hey, don’t take my word for it.

The three factors that derive Cap Rate are risk free rate + risk premium, NOI growth, and liquidity of the asset. 

A good FAQ page on this law: http://ag.ks.gov/open-govt/kora-faq)KORA states: "No person shall knowingly sell, give or receive, for the purpose of selling or offering for sale, any property or service to persons listed therein, any list of names and addresses contained in or derived from public records … Any person subject to this section who knowingly violates the provisions of this section shall be liable for the payment of a civil penalty in an action brought by the attorney general or county or district attorney in a sum set by the court not to exceed $500 for each violation."

With the SFRs you have very little in the way of tax avoidance, the same cash flow derived from a large multifamily would produce virtually no taxable income through cost segregation and other means.