That puts the Cap Rate around 8% based on an about $ 62,400 of annual income.  

If you want to, you can also figure a cap rate, the gross yield, and the Internal Rate of Return, which is like the CCR but uses 5 to 10 years using the annual cash flows.  

I am looking for 10%-12% cap rates.

These were good buys from HUD (lowest 2 sold in the complex in recent history) that I rehabbed, so the cap rates are pretty good.

Both provide checkbook control, which is a great feature.

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

Also a good equation for maximum allowable offer (MAO) isMAO=NOI/MARKET cap rateDont use the cap for the property, use the cap for the market it is a much better estimate of the future of the rental market in that area.  

For Cap% it really depends on the age of the property for me. 

, but i ran the numbers and after that it didn't look so appealing, and if you were to factor in capital gains and other fun government taxes, well, i don't think it's a good option, and there are for sure better ways to exit.The numbers play out like this (not considering taxes, capital gains, and other factors, i was just trying to play around with the idea and keep it simple for the start):Your NOI: ($119,160 + $30,000)  - $70,000 = $79,160 or $2638.67 per year for 30 years and $219.89 per month for 30 years when you factor in the 30% down into it ($137 per month for 30 years)Cap Rate: 2633/70,000 = 3.76% per year for 30 yearsCash flow: $331 per month for 30 years but only $137 of that would be profitROI: 2.33% without the 30% down factored into it (3.76% with the 30% down factored into the calculation)Total ROI = $79,000/$70,000 = 112.86% over the course of 30 yearsConclusion:Well, from what i see here, the problem is the interest rate used.

So, you're at $1,480 a month less vacancy, cap ex, etc.