The low cap rate essentially acts as a multiplier to value with increases in NOI.  

Add up your adjustments, divide by 0.5, multiply by 0.125.Lenders are allowed to have extra hits, for example small loan amount is frequently a hit, as is 5+ mortgages.

Multiply your $. 

If I take the rate charged and multiply buy that same number, it does bring my payment closer, but still not right on.  

Costs multiply, appraisals are $3500+, the city gets more involved, parking becomes a thing, licensing, etc, etc. 

And for those (crazy) people who want to put each (SFR) property in their own LLC, multiply the number of accounts by your LLC count to get the number of total accounts you will need to manage.

The main issue is the amount of money you spend does not equate to your remaining eligibility since your eligibility is guaranteed on a sliding scale and then banks back the loan up to a multiplier.

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 $7314 if not.Building Permit Fee- $1,645 if under 3500 sq ft (if more than some multiplier of sq ft)Filing Fee- $800Finished Basement Fee- $225Grading Fee- $50U&O- $25Capital Park and Planning Fee- $5Electrical Permits- $1000 (varies but $1k was a rough estimation for new construction)Water Permits- $3000 (varies but was a rough estimation for new construction)HVAC Permit- ?????

The CRE industry uses the Gross Rent Multiplier (GRM).