Your last sentence is incorrect.  

In fact, your responses came across as though it cannot be done legally, anywhere, which I would consider as irresponsible, incorrect and contributing to people on this board perhaps missing a great deal.

As you can see cap rate is a valuation metric that are used in valuing 5-or more unit properties.I also like to add that cap rate is often used (i.e. incorrectly IMO) as a performance measure.

I don't know if implementing shared-economy exchange with smaller assets such as car, bike, scooter, etc are worth the time relative to other things I could be doing in real estate, but I'm looking forward to being proven incorrect by Al Williamson!

I thought, perhaps incorrectly, that I needed a new lease between the tenants and myself.

So, I would love to hear from my fellow Jersey people or anyone that as a comparable market that this is possible and my realtor buddy was incorrect. 

Seems incorrect to me.

“latex”=latex out......auto incorrect.

@Alexander Felice yes I wrote the price incorrectly it was selling price was 114,000 not 140,000...

While those metrics do provide useful information, because so many people do not understand them, they tend to misuse the analysis and therefore could be led to draw incorrect conclusions from them.