Maybe 12% is incorrect.

When I joined, an error occurred when I upgraded my account and I was charged incorrectly.

I'm no stranger to investing out of state, and I assumed incorrectly that this would be similar to my previous experience.I wanted this property to be my first of many with R2R, but it just didn't work out 

Do you see anything I calculated incorrectly? 

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.