The average rental rates in this area are $1300 - $1400/mo.

High maintenance and high eviction rates, but can look great on paper.

Your CAP rate will be dangerously inaccurate Good post.

If so, anyone happen to know what those rates look like in San Antonio? 

$550,000 * .7 = $385k which is roughly $2700 at todays rates.

For the right investor, this could be a strategic option to scale quicker and maximize tax benefits like we do.I have worked with GR quite a bit in the past, especially with loan blocks for rate buy down. 

Not asking for seller concessions to help buy down the interest rate if someone is using bank financing

Doing a refi now would move me from a 4.5% interest rate to somewhere in the high 7% to 8% range, so I am thinking of potentially selling.

So much so that the formula to determine the value of a commercial property is Net Operating Income / Cap Rate = Property Value. 

For investment properties in the lower priced neighborhoods of Linden and Franklinton what type of vacancy rate is typical?