The lower the Loan to Value (LTV) the lower your risk is. 

These are my numbers, however, the best thing I believe I got going for me is that I lowered my living expenses.

It will of course lower your monthly cash flow, but it goes back to what you are looking to do.

The tricky thing with cap rates, is that the lower they are, the more expensive (valuable) the property.

If one appraisal comes in lower than that number, then likely every subsequent appraisal will, too.

Like a traditional refinance into a 30 year at a lower rate?  

However, I wouldn't lower your standards for a good deal because "all the prices are so high."

@Benny Gelbendorf I think it's always a good idea to lower your expectations in RE investment. 

He said never heard of the penalty. 15% is usury but it causes problem only when borrower comes back suing me then if I go to court judge will ask me to lower it down to 10%.

I've fixed pretty much everything unless it was over my skill set (replacing capacitor on A/C system, for instance; landlord told me when I moved in it was okay to repaint or whatever as long as it improved the house), my neighbors love me - they've told him so; I've resodded the yard twice (FL grass sucks with a dog), had the landscape crew redo the trees in front so they look good, replanted flower beds (perennials), power washed the house every year after wet season ended, ensured the pest control worked...The BUT part ...As a sole practioning consultant (pre-IPO weakness remediation, large financial systems implementations, global audit recommendations for SEC registrants, etc.) at times during the last 3 years things have been sink or sink lower credit wise and the ID theft didn't help (apparently, I bought a car in GA and own some property in TX).