Hmmmm, you mean something called a cap rate? 

It has a monthly ROI of .824% and a cap rate projected at 9.8% as it is fully leased.

There is a cap of +/- 5% on the interest rate.

@Christopher FreemanYes, a market or an area has a cap rate.

I assumed a Cap Rate of 5% based on other similar properties in the area.   

The people with bigger portfolios here tend to advise building up a cap ex reserve that will cover your big surprises, but eventually to treat it like insurance. 10% each seems like a good first buffer, until you have the reserves.

My point is that just comparing a CAP rate to a treasury yield is not a complete comparison.

I do have the option to purchase with financing 20% down, 4.125% but closing costs would be 5200 so the interest rate might be higher due to a cap on financing fees that would not be calculated until the process was started with the appraisal, hard credit check etc....If purchasing with financing the property would be cash flow positive @700 per month in gross rent. 

Suppose you did buy that GREAT 1%er as most here want and it gives you $200 per month of Cash Flow and it has a Cap of 10%.Let's say you had to sell it next year.

In super lien states, you may owe the HOA a certain amount in HOA dues but there's usually a cap.