I've run into similar scenarios and have observed my clients typically doing 50/50 - however, this is usually with a partner they've already been working with for a while and have done a few deals. 

Generally the only time this happens is when there is a discrepancy between the tax rolls and the observable situation.

.- Observe all parking and street sweeping signs to avoid being ticketed or towed.

During an eviction or whatever.They might end up knowing more about your personal life than you'd like, just by observing what's going on at your house ("Looks like LL is on vacay...")My personal opinion is the pros outweigh the cons and close rentals are a great convenience.

To answer the question...in my city of Cincinnati this is what I observed across different markets is the following:A - 4-5 capB - 5-6 capC - 6-7 capD - 7-10 capF - 10-12+ capAnd I think...with the Millennials being the largest demographic group and wanting to rent more than buy, we will see cap rates go down even further.So, I am still buying but I focus on value-adds where I can raise the rents significantly.To me, it's no longer buy to get yield play (because the yield is just low) and it's now...buy, increase the rents, increase the value then sell (or refi).

A couple observations about how I balance:1.

That has not been my observation for the most part in Texas….San Antonio respectfully. 

Here is a little bit about me:ExperienceMy Real Estate experience in the traditional sense is minimal, however I do have Real Estate experience in some capacity with my job; I work as a site acquisition specialist for a large tower company, so part of my job involves researching properties and negotiating leases with commercial landlords for antennas on rooftops.

That's more of a close ratio that I have observed.  

And excellent observation.