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I consistently see double digit cap rates and COC returns.

They're going to be the ultimate decider of the appropriate cap rate for your deal.

We want the house, very good location.  12 offers total, but they were deciding on ours at 405 and another at 400-which would cover the short fall, with no cap. 

I am unsure whether to start with a SFR closer to my location in the metro Detroit area or possibly invest in a STR up in northern MI (possibly Traverse City or other vacation destination)What areas in Metro Detroit have the best cap rates for SFR or residential multifamily rentals? 

Is 6% cap rate good?

What are features standard in the homes you build?

Can this be considered an exclusion after i sell it next november to avoid cap gains?