Currently my plan is to graduate, get a raise, save down payment, and finally purchase a property aiming for a reasonable cap rate and cash on cash return.

Taxes - $2786  Vacancy - $1100 (1 months rent)   Cap Ex - $1320  Maintenance - $660  Property Management - $1320Net Income = $5,264 (Which is pretty good!)

You don't just "tell them" about it, you go thru the process of collecting it for them, and the state caps your "fee" for doing this at 12%, along with other required disclosures.  

I shoot for 10% cash on cash, and 8 caps for larger multis (In my market).Secondly, get out there and start networking with banks, real estate agents and other professionals.  

I have my first Manchester deal under contract, a 6 unit building at around a 9 cap based on 50% expenses.

I know the Cap rate is a significant factor in determine the the true value of an apartment unit.  

The seller credit reduces the out of pocket amount by paying the closing costs.Conventional - investment property = 2% maxConventional - primary residence - over 90% LTV = 3% maxConventional - primary residence - 75.01% - 90% LTV = 6% maxConventional - primary residence - 75% LTV or less = 9% maxFHA = 6% maxThese credits are also capped at the actual amount of closing costs and prepaids. 

I have been analyzing some 5 unit multi-family properties lately and was wondering when factoring in cap expenses at 5%, should that percentage be per door for 25%, or should it just remain at 5% in total? 

Do you use DCSR to measure profitability or CAPs (pro forma)?

Im hoping I can get enough rental income on the first year to cover all expenses including mortgage, cap ex, repairs, vacancy, and hopefully I can wiggle in management for the convenience of properly screening of quality tenants.