Check your local laws, and if your heating system has a timer, you may want to reduce the nighttime temperature by a few degrees, if your water pipes are not particularly susceptible to freezing.

Your actual cap rate is an indication of what others may accept, how happy were you with your earnings?

and what about the tax implications of now having "earned income"?

No different than an office visit you pay for at a doctors office, our expertise and education in the trades is a value to most sensible investors.If basic principles are applied during pre-construction, 9 times out of 10 everyone will walk away feeling good and most importantly with profits earned.

My goal is to earn at least $12,000 per month passive net income within 3 years and hope to find many people with the similar goals.

Earnings next year will 250, then 330K.About 100,000 of my debt is 5-6.8%, the other 200,000 is 2.8%-3.8%.We are moving back to the NYC area and were wondering if we should sell our current Manhattan apartment (we won't be living in Manhattan) and use that money to pay off my higher interest loans and credit card debt and put a down payment on a house versus hold onto the apartment and continue to sublet (rent) it out in the hopes that someday we can sell it for a lot of money or keep it in the family.

Makes me feel I earned my money.

Our cash flow was reduced each year until it got hit by a few hurricanes.  

I wouldn't call it a great deal, but here are the metrics nonetheless:Purchase price: $435k reduced by seller credit of $15k for net $420kDown Payment: $15,225Monthly Rents: $1,025 1-bed + $995 1-bed + $675 studio (hasn't been raised in 15 years) + $650 (bedroom in my unit) = $3,345.  

This reduces the premium much lower than the standard Flood policy.