While interest rates are high compared to the recent past, they are in line with the historical norms.

In the Reno, NV market there are better cap rates on single-family than multifamily because the the supply issue of multifamily.

Your level of experience may or may not factor into the rate you get.

What are the rates if you’ve done one recently?

@Baahir Starkey the easy days of low rates allowing a beginning investor to pick a property on the MLS and have it cashflow are over for now.Now, investors have to do lot of research and pursue motivated sellers, willing to take less than their property is worth. 

Here's my perspective:The current rates are historically low, we all got spoiled by free money during the 2%-3% mortgage rate era.

However, the rate is higher and the capital paydown is significantly lower than the Las Vegas property.

Higher interest rates and shorter terms are part of the deal, but they can get you that quick cash you need for the purchase and rehab.Then, there's private money, which might come from individuals like your dad or other investors looking for a solid return.

Some important obsverations: Navarre Beach has the highest occupancy rate, 70.3%.Okaloosa Island has the highest number of listings with +30 reviews in the past 12 months.Pensacola Beach has the highest average daily rate, $295 on average throughout the year.The average stay is about 5 days per booking in all three communities.

We here at BiggerPockets have heard for years, even before interest rates went up, that deal finding is a top challenge.