With current interest rates around ~7% for investment properties the net cash flow initially with new construction or turnkey would be 1-2K/month (terrible CoC return).

How can I determine an appropriate cap rate for this?

Note has terms of repayment (amt, rate, term, special conditions). 

Look at trends in property values, rental demand, vacancy rates, and economic indicators to assess which market aligns better with your investment objectives.Risk management: Determine how much risk is involved in each choice.

Hi Jesse,As a lender, I am seeing more borrowers getting into multi-family due to the higher rate environment and challenges with cash flow.

I would expect the direct number for the attorney to be on the website and I would also expect to be billed an hourly rate to consult with them. 3.

Have you also looked into property and flood insurance rates?

@Logan M. and others:something else I've been mulling... if you have septic for sewer, why not bill tenants a flat rate?

We got a really good mortgage rate on one of them so there is actually some cash flow on that.

There's no seasoning period for a rate-term refi.