Unless I can Profit from the Refi of course, since those dollars are tax free, cost 6% or so, and can save me the same 14% In conclusion my opinion at this point is to mix flips with rentals, keeping the lower profit flips as rentals, and selling the higher profit ones - I feel this is a safe middle ground

Right now we are comparing each location and making connections out there. 

Compared to south beach where caps are around 4% not to bad.

I too buy cheap houses but I think there’s a middle ground.

Compare that to my backyard in Provo where homes are $250,000 and rent is $1100 a month.

Surprised nobody has mentioned that you shouldn't be using a cap rate to determine your offer.This is a residential property since it's under 5 units and it's value is strictly based off comps.Look what other comparable 4plex's have sold for and then decide your offer based on that.It could very well be that you're just in an area where the price to rent ratios don't make sense.

THe prices are crazy compared to what we could rent them for

because physicians (my wife is one) are ground zero for targeted, focused advertisements of these kinds. 

We believed the suggestion from Morris is ridiculous and have these two ideas for legal consulting, we are Canadian, don't really know US laws, just from some common sense and general knowledge about laws: 1)Indy Jax (Ocean Pointe) only shows up on the deed, no document between them and us, it seems there is no ground we can sue them, right?

While comparing investment opportunities an investor needs to assess risks associated and then expect a commensurate return.