I'm also a buyer in Broward and Dade, but the numbers are difficult.

Unless you have a personal relationship with a bank and they understand you may not file returns each year, it will be very difficult to get a loan from a bank.

Should I be using the cap rate to analyze student rentals?

Combining the House Hack and BRRRR strategies is extremely difficult to achieve.

It's proven a bit difficult.

If I run the numbers ultra-conservatively, assuming all garages are vacant with no income from them, the property would make about $350 cash flow monthly with 5.5% cash on cash and 6.5% cap rate (I know, not impressive).

It is way more difficult to get it right and obviously requires different tools.

I have been finding it more difficult to source deals through the mls and beginning to move my strategy elsewhere (direct mail, internet ads, etc). 

I also determined the CAP Rates and Cash on Cash return was minimal- 5% or less on most deals.

Im a newby, but it seems quite difficult to find the 1% property in the city of Houston without having todo major repairs (I dont have those connections yet).