You meet these types, and they HATE tenants, they HATE the job, they're convinced that there's only one way to do it, Mommy and Daddy bought the duplex in 1951 and passed it on in the mid-eighties and they wish their parents had given them a stock portfolio instead.

Even though the outside temp is mid-70s, our office is holding steady at 80.

I expect to close on a house hack in mid-April. 

@Ross Denman  Ross thank you for bringing the voice of reason to all this hysteria about BRRR its funny its like it was just invented and book written I guess it is for new investors.we were funding BRRR in the mid west and indy specifically as early as 2002.. 

After the mid 80's when Dollywood opened It has seen steady growth with just a few ups and downs.

Mid Atlantic and parts of Florida much more lucrative.

I'm not as in touch with properties in the 20-30 unit range but larger assets (100+ units) are trading in the low to mid 6% range.

Conventional rates are high 3's to low 4's currently and FHA and VA rates are low 3's to mid 3's currently.I hope this helps.

Personal income is not considered however Mid FICO, DTI and LTV is.

Continuation from Part 1 of this series: https://www.biggerpockets.com/forums/44/topics/723267-apartment-financial-underwriting-part-1-of-a-2-part-seriesApartment Financial Underwriting - Part 2 of a 2 Part SeriesInvestment Yield RatiosIn Part 1 of this series, we covered the basic organization and structure of an apartment proforma, income and expense summary, and a construction cash flow schedule.In this 2nd part, we'll cover investment yield ratios that we utilize as a professional development company, to analyze the return characteristics to determine if a project is worthwhile in our initial underwriting, as well as, provide final financial return reporting on completed projects.In the development business, these are the major financial ratios used to measure investment yields on equity investment by professional developers, institutional level and mid-size equity investors:Internal Rate of ReturnEquity MultipleROI or Cash on CashInternal Rate of ReturnFirst, the textbook definition:Internal rate of return (IRR) is the interest rate at which the net present value of all the cash flows (both positive and negative) from a project or investment equal zero.Internal rate of return is used to evaluate the attractiveness of a project or investment.