I understand what cap rate was originally designed to do (as David pointed out) but in practice I see cap rate being defined and described the way it was NOT originally designed to do.I keep running into posts where the "experts" would define cap rate as follows:"The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.

I've lived practically everywhere so have a pretty good sense about locations.

Create a pro forma in Excel and practice running potential project rehabs (buy, fix, flip) through it.  

I say hopefully because it's all going to start when my primary home sells.I was curious if it's common practice to require any place be vacant upon closing.

also i have another question on how can i practice title search by my own, i have access to land records online in my county but i need someone else's opinion to decide what i see is looks good to move ahead. if anyone of you can help me with may be 1-2 properties title search would be great help. 

Most renters (in my experience) are far more practical than homeowners, and want a place to be affordable, safe, clean and near where they work or shop. 

My name is Lyzander Vereen, and I am here to learn and practice investing in real estate.  

Too many agents try to jump on this investing bandwagon, but have no practical working knowledge of how any of it actually works.

I spent a week practicing my pitch, prepared a one-sheeter, and presented.

While you are correct about command authority, it is not a very common practice today.