They each have a market value of about $250k with a cap rate of about 5%.

Happy to talk more specifics such as Business growth here, CoC return, cap rates, etc. 

For conventional rehab loans, you are capped at the conforming loan limits and rehab money allotted is typically less than the Standard 203k. 

Cap rates 10+.

@William Collins hi how are you coming along today, we're from Brooklyn ny market is very tough here so we want to explore a new area which there is a demand for rentals and we can get good at least 10 cap deals and it should get good apprised (we're doing the BRRR) so we've looked up a few areas, Putnam Ct looks a nice area we would like to buy a nice amount of properties our question is if rentals is a item there and here a little more info from a insider from that areathanks so much  

Also he stated if we did move our home and auto over to them they then cap out the liability of the apartment complex at $500k.

You will also run into CAP RATE which is very much misunderstood here on BP.

@Garrett CrosbyOakland, CA… where you can find 1% rule properties and add value at 4% CAP Rates.

In addition to the depreciation recap, you would also have to pay cap gains tax of course. 

Monthly rents are $1875 gross and my cash flow is around $800 per month after expenses,cap ex, PM, and mortgage payment.