This is one of my favorite features of Bigger Pockets especially for asking specific questions.

You'll likely start getting capped out at 4-5 properties, but it's possible to secure up to 10 conventional loans before you'll need to look into portfolio / commercial financing.

That is a very attractive cap rate. 

@Josh Benitez it's really up to each individual investor...I have no desire in being a landlord myself at this time, but I know if I were to be in that game I would not just be worrying about cash flow, but also the cap rate.

However, if the property does well equity investors usually have no cap on their potential returns.

I do agree, however, that if you can remedy this, you could potentially add value to the property (lower expenses means higher NOI means higher value at same market CAP rate).However, one thing to keep in mind: You can not expect to get the same rents once you transfer the utility expense to the tenants.

With a few limited add-ins/subtractions for additional features like garage/deck...though, added nothing for my solar panels (whatever!). 

.** Purchase **Purchase Price: $ 75,000Purchase Costs: $ 1,500** Cash Flow (Monthly) **Rent: $ 850Vacancy: 8% (-$ 68)Expenses: -$ 338Net Operating Income: $ 444Cash Flow: $ 406** Returns **Cap Rate: 7.1%COC: 7%Rent to Price: 1.1%Gross Rent Multiplier: 7.4

That's assuming a conservative 15% Cap Ex reserve (it has a new roof and 3 of the 4 a/cs are 2 years old) and 10% maintenance reserve.  

From what I understand CAP Rate = NOI/Cost Basis.The price is $1,700,000.00 for a 28 unit property and they are advertising a CAP Rate of 7.46%.