If I turn the unit every other year, my vacancy is 1.9% blended over the 2 year period.  

I use a blended actuals and pro forma set of numbers when looking at what my true going in cap rate will be.To be honest, I also put very little value in cap rates on any properties.  

You would have to do the math, but the blended rate would likely make sense.  

Opportunity Fort Myers offers a unique blend of Beach life/ city life at an affordable price...that price is growing everyday.The beach is beautiful IMO, but we have our fair share of water discoloration and increased red tide blooms due to the Caloosahatchee river discharge.

It's different when it's a blend of personal and investment as it sounds like this is for you.

The HELOC portion carries a higher rate, but it's a minority of the leverage, so the blended rate is still quite good.

@Gabriel Moreno, when I read some of the responses, I think people are blending definitions.  

Agreed..Redington Beach, Madeira Beach, Treasure Island, St Pete Beach have a good blend of multi family, short term rental and residential. 

These are simply economic norms and factors of the market at large, but I find them to be good ways for us to understand intuitively WHY interest rates do what they do (ignoring the governmental suppression of the rates, of course).This will roughly track with the rates that lenders use, but it may look more like a blend between commercial lenders and hard money lenders.% of profit is a great concept and I love that it aligns interests, but know going in that it significantly increases your administrative burden compared to a simple % on the loan.

This creates a blend of housing and helps contain some of the costs.