From what I've read around here, it sounds like getting funding for long term buy and hold will be more difficult than flips or sub-5 year investments.

As such, I see it getting more and more difficult as you try and obtain more units as more and more issues will come up. 

So why not just use Cap Rate?

Require co-signers (usually parents) if they have less than 3 years of credit history (This could be difficult because a majority of my tenants are international students).  

sub-dividing will be difficult.

) $9,660.00 Yearly Net Income $17,940.00 Mortage $15,336.00 Yearly Cash flow $2,604.00 Cap Rate 7.10%  The investor is using a BRRRR investment strategies and will be able to pull out most of the cash from this project.

The cash flow without appreciation markets (i.e. the Midwest markets) have a hard time scaling with inflation, is too small cash flow to make a significant impact to CA investors, can be a pain in the butt (building trusted team, potentially poor tenants, potential hidden cap expenses, potential Mother nature issues, etc.).What is good cash flow after all expenses in the Midwest after accounting for all costs including cap expenses? 

Most often those who work with cash only buyers are working with lower cost properties in areas that are really difficult for out of state investors.

Even setting aside $$ for cap ex and vacancy my client can live in one side for way less than average rents.

That doesn't factor in the multiplying effect of the cap rate on the value.Cash flow is nice.