Local in Bellevue, northgate for some of our other team members, what specifically were you looking to accomplish in the cashflow multi-family game? 

You will make several mistakes starting out and will only be worth it if you then continue to refine and master that specific strategy.

Your CAP rate will be dangerously inaccurate if you calculate expenses incorrectly so let's break those down.Utility Set-up- As an overview you need to know the difference  between city-provided utilities and onsite such as Septic Tanks with Leech fields, lagoons, Wells, EtcGetting more specific what utilities are maintained by the community, paid by the community vs the tenants.I will give you a quick example, I own a park with a bunch of multifamily manufactured units of which I pay the electricity bill.

Come back with specific questions.

It really depends on your specific circumstances.  

But there generally isn't a market for them as such.But that being said once in a while a DST comes on specifically designed for shorter holds and they anticipate an 180 month to 2 year hold. 

It makes sense to buy and hold real estate at the right time, for a specific period.

@William Brock I can't say specifically how well these do, but we have lent on numerous VRBO type properties on Canyon Lake recently, and those borrowers seem to be doing well, so other investors are doing just what you're talking about, for what it's worth

This will vary based on the owners specific situation and tax regulations in your area.

You are dealing with a specific lender overlay and not all banks/lender have those types of road blocks.