No rental cap or rental restrictions. 1 parking spot included. 

I'd have to run a 220V line that's not there and cap off the gas.

As you mentioned, there are several carriers which will cap the number of properties, or have similar measures, which often make things difficult for RE Investors and the Like. 

Hi @Ross Drucker,You know that Fannie's cap is 10 financed properties, right, not the 4 that many people claim?

Hagerstown is attractive to investors due to the low entry price points and high cap rates but understand it is a cash flow only type area. 

Property in Bakersfield will get you significantly more bang for your buck than down south where you are.

You need to figure out exactly how to calculate them and figure them out so you can calculate the NOI and determine the cap rate of your market.

I've seen some of the lowest from Safeco in different cities.Other operating expenses can be estimated as well as a percentage of the gross (maintenance and cap ex, for example) or property value (property taxes).

I've done some extensive top-down research on attractive cities for single-family or small multi-family (duplex, triplex) buy & hold rentals and Philadelphia has come out on top.I'm looking to understand what would be a reasonable gross cap-rate to expect when investing in Philadelphia given a budget of $150K - $200K.

So to summarize, My ultimate question to area RE Investors is what area or letter grade have you found offers the best bang for your buck in South KC for Multifamily?