Those are already performing with all the metrics needed. 

But lets just say that as a median performer, you want a duplex/triplex operating, and you need it to pay for itself, and make you a couple thousand dollars a month over a yearly average.

The challenge that you are running into is that you are confusing cap rate for a measurement of performance, which it is not.

You should really vet the CPA that you decide to go with.Taxation on notes depends on several factors such as is the note performing or non-performing?

not sure what is scarier, that you do not see the risk involved in note investing or the actual amount of risk there is in non performing note investing. 

Generally these underperform at best and are nightmares at worst, so at this point most either sell for a loss and get out of real estate, or graduate to higher priced SFH in better areas that actually perform as planned.  

Hiya folks,Anyone out there know of data sources to use when performing market research on a new potential real estate market to invest in?

Even a 6mil with perform very well in residential settings with a good Aluminum oxide finish.Good Luck and good installs.

Please perform proper market surveys on COMMERCIAL or industrial investments not just MFR.

When underwriting a deal you want to take into consideration all aspects of the transaction including future performance and market conditions.