There is a lot of data available for me to make a solid projected NOI and I understand what a cap rate is and how to calculate it BUT no idea what the LOCAL cap rate is for North Central Arkansas.

At lease with MLS deals I can get lucky and find the occasional broker who doesn't understand what a cap rate is.

At industry standard 55% expense ratio, and a rent of 1750, this 277k property has a cap rate of 3.4%. 

They're going to look at your experience to see if you are a capable borrower.

Is there a cap on the interest rate of your mortgage?

Like, putting a cap where I'll cover up to $200 for electricity, water, or gas, and if it goes over, that's on the tenant.

. $120K divided by$1M * 100 = 12%).This being said I have been scrubbing the (Canadian) MLS for a while now and haven't yet seen any multifamily property advertised with such a cap rate.

@Javier Osuna not many 2-4 units have sold in 92173 in the last 12 months, only 317-319 Foothill Rd which sold for $1.175M with a cap rate of 4.5%. 

Kennebunkport (where I am located) just approved proposed STR regs which means a cap on the number of STR's that will be allowed go forward.

I simply put a cap on H20 cover for the first 2 occupants.