Cap rates are not all equal which many people do not understand.If I buy a Sam's club in Riverdale for 8 million at a 7 cap in no way is that worth the same as a Sam's club in Buckhead GA for 12 million at a 7 cap.

page=LoadVirtualDoc&BookmarkID=6536) that capped annual increases to the Taxable Value of a property to the lower of 5% or Michigan's Cost of Living increase.

This is the 7th storage facility I have purchased - new construction at a 9 cap purchase.

From page 730 (emphasis mine): "All non-business tax deductions and exemptions that were temporarily suspended by the 2017 tax bill should be permanently repealed, including the bicyclecommuting expense exclusion, non-military moving expense deductions, and the miscellaneous itemized deductions.23 The individual state and local tax deduction, which was temporarily capped at $10,000, should be fully repealed.

Cap rates are at 5-6% on a stabilized SFR with a long term rental strategy.Only strategy I am seeing pencil right now are with a rent by the room / co-living strategy .Flips in some areas kind of make sense where you're all in for around 80% and can make a spread.I'd suggest evaulating different strategies or markets, else you may burn yourself out - this is learned from experience :)Shoot me a pm if you'd like to chat - I'd be happy to chat and help save you some time.

There is an alternative that involves doing cost segregation on property you purchase and using this to help offset cap gains resulting from failed 1031 Exchange.

I agree that cap rate would yield a lower price than even $450K. 

when underwriting a property a good rule of thumb would be to set aside ~5% gross income for each Cap Ex, maintenance, and vacancy. (15% total)I dont know much of the market in TX but in central MA i work with a lot of investors that are interested in acquiring multi family properties so that's mostly what i deal in. 

Rent increase over the rental cap per 12 months (10%)4.

My first thought was sell to lock in your tax free cap gain.