Saying a cap rate number without any support is just useless.

To understand the prevailing cap rate in your area, first let's look at what goes into a cap rate.

You can't just utilize an agent that surfs the MLS and has no idea what a Cap rate is and is used to selling to first time home buyer...But rather find the one that has experience in investing. 

Washington has too low a cap rate for apartments...

But I know for my areas I can expect a cap rate of 5-7% and to put down 25% for non owner occupied.

The only problem is the seller is pricing as if the property is already turned around and stabilized.Also, are you clear on what a cap rate is?

I'd suggest educating yourself first on MFH syndications by getting a course from someone who's being doing it for many years and/or finding an experienced syndicator (could the teacher you bought the MFH syndication course from) and offering to do a cap raise for their deal.

We always drop $1,000 into a Cap Ex fund and contribute accordingly thereafter. 

You should really only consider this system if municipal sewer is available.As for a CAP rate, that would be up to you.  

Best I can find in Bakersfield right now are rent to price ratios of around 1% and a cap rate of 6-7%.