CAP rate has been debated so many times.I hate debating; so I am going to simplify the explanation.Think of cap rate as P/E ratio; when purchasing a stock .eg. 17/1 P/E ratio on a stock means you are paying $17(P) to buy a dollar(E) return from the company.

I'm debating on whether or not to get it.

This is a very hotly debated topic in the real estate investing space :-) this post my blow up, watch out :-) There will be as many opinions on this topic as there are people...There are pros and cons of doing so.

What other criteria are you considering / debating about?

I'm debating doing pet fee instead of pet deposit but i honestly don't mind giving back the deposit if it turned out the pet does not do any damages after one year, ill be so happy i won't mind at all giving it back.

I have been debating on getting the "Home Repair and Remodel Cost Guide" has anyone used this?

If you're using the LLC for asset protection, having assets in the LLC with loans against them in your name will almost certainly pierce the veil, allowing anyone who might sue you to argue that you and your business are one in the same.J, then why in the world are there almost daily debates on this site regarding the proper techniques to secure long term fixed rate financing (in your own name), while then deeding to an LLC for asset protection purposes.

I am debating selling them and using the money via a 1031 to buy property closer to home (which is more expensive) or just keeping them forever.

They may only review architectural and other change requests at their monthly meetings, in which case, you will have to be prepared to carry the property for a month or three while you wait for the next meeting and they debate whether or not to let you do what you want, and the terms they will require, before you can even start. 

I keep debating between trying to get a different 9 to 5, versus just going all in on trying to make the real estate thing work.