For example, South Cape has larger tourist destinations such as Cape Harbour, the downtown area, Yacht Club, Marina Village, etc, where there's really nothing comparable to any of those districts in the Burnt Store area.

However, at this point, the information is still more general and scattered compared to certain focused programs.

Double the maintenance and capex on a 40's built home as compared to a 2010 build home and then let me know if it cashflows that much better. 

It's likely, you are being too tight on your comparables or not searching correctly.

There’s something incredibly rewarding about creating spaces that positively impact people’s lives.  

But…as soon as you pay cash, now you have to compare it to a GUARANTEED 5% bank return on your money.

Each asset class has its own pros and cons, or risks and rewards.  

The one percent and 2 percent rule ive never looked at ... cap rate is .. meh .. its there - what im most concerned with is the price of the home relative to comparables and cash on cash to start.   9)  I look  the other way if it is a multi unit that is not separately metered - thats always one of my criteria here in pgh as there are a lot of older homes and a good portion you wind up worrying about who will cover utilities.  

Adjust return based on holding time and risk reward.

I would factor more vacancy as you might get more turnover compared to other suburbs.