That's a solid explanation of how cap rates are commonly used, especially in the context of large multifamily properties.

Hi everyone,I want to thank you all for your responses. 

As a result, the Fresno multifamily market remains on solid footing despite slowing demand figures.

This is a great response!

If you can create a solid team investing out of state could be a great option.

Responsible leverage makes it possible.

i think having 'discovery calls' with multiple brokers/lenders is always a good idea. see what loan products they can offer you, what their rates are like (but note that many tell you one thing & ultimately have to close you at another), and most importantly make sure you have a good gut feeling about them. make sure they're responsive and want to educate you & don't try to win your business by sh*tting on other lenders. it weirds me out that the person you talked to had said what they said. to my knowledge, rate shopping & getting your credit pulled for it multiple x in one 30-day span is just fine. all those hard inquiries fall off anyway. it's worth it to get a great loan product and a great rate. and they're wrong - not all lenders have the same products to offer!

Do wish to float the question to you, does a market like bay area have any opportunities with solid foundational numbers and appreciation on top(gravy)? 

Amazon, FedEx, Starbucs, and ChickFilA have all had massive surges in presence here, and we all know they are heavy into market research and population movement.

If you are maxing out with the W-2 associated plans, your Solo 401(k) would be limited to accepting employer profit-sharing contributions based on your real estate commission earnings.There are several solid professionals who specialize in Solo 401(k) plans here on BP.