Certainly do not expect to find a Cape Coral single family home for 200,000 that needs 40-50,000 in rehab that will be worth +275-300,000 on the MLS right now no matter which realtor you choose. 

I am going to be focussing on a cash-on-cash return more than a CAP rate for my next investment. 

The day I see a cap rate over 7% I may have a stroke haha.

I looked into this in Michigan a couple of years ago and found that the entire state has a "cap and replace" rule in effect right now (you can't build a new billboard unless you take another one down somewhere else), which makes it much harder to place new billboards for the time being.

This puts me at a cap rate of ~4.3%, and a CoC return of ~22%. 

But if you estimate that you need to make a major repair within one year that will cost you $2,400 and your monthly gross rents are $1,000, you should really be putting away 20% into a cap ex fund each month ($200/mo x 12 = $2,400).

The multifamily homes should be straight forward in that they price on a cap rate and already account for future income.

The floor is usually 0% and usually has a cap of around 10% these days. 

Hi @Paul Wolfson,As of right now Incline Village, NV (Washoe County) doesn't have a cap. 

I've recently won loans from private money lenders because of the 'fine print' and because we do not have a cap on loan amount.