I don't think cap rate for residential RE is necessarily the best metric, but I try and achieve a 10% minimum gross rent to purchase price figure, so a $300K property I am hoping to achieve a $30K/month gross income goal.

@Youssef Labib  I don't know about the success rate of this or any big guru program, however my thought is most people at the end have parted with a large sum of money with nothing to show for it. 

As a new property manager I’d like to be on top of that if someone asks me, what I suggest would look the best and be the best in their rental units.I had an awesome property manager who would buy the modern nice looking flooring in bulk so when his owners needed to rehab a unit he sold them the modern vinyl plank flooring for cheap.

Hi All,Trying to understand if anyone else is finding any residential  deals in Nova area and at what cap rates?

Calculating the cap rate (NOI/listing price) is crucial to know what to list at. 

In addition, property prices and higher mortgage rates have squeezed margins due to higher monthly carrying costs.

Given your situation, I think the best thing to do is 1) work on improving your credit and 2) look to house hack, preferably a duplex or fourplex where you live one unit and rent out the others.

Reach out to a ton of contractors and filter out the ones you like best.

How important is finding a mentor in this field, and what is the best way to connect with experienced professionals who can provide guidance and support?

My goal is to own more rental properties, and was wondering whats the best strategy to achieve this, with regards to what to do with monthly excess money.