How about an app or a website that uses the API like padmapper.com that pulls sales price and the rent zestimate and automatically calculates a cap rate based on 50-60% of gross rents equal to a NOI?

In Indianapolis, we are able to get 15+ cap rates on duplexes and triplexes, and that's with 30-35% assumptions for property management, vacancies, annual repairs, etc. 

Sunnyvale is getting extremely expensive so people have to migrate south, and North SJ is the closest, where people get more bang for their bucks.  

According to your numbers you estimate $9,118 in NOI on a purchase price and closing costs of $150,000 for a cap rate of 6.1%. 

I made them pay for this. but plumber didn't finish the job, just capped off some pipes going to shower in tub. now i have to get a plumber.

Also what are the cap rates and cash on cash (with rehab included)?

Please also read carefully the 82% cap rule in 61.34.120(1)(b), which basically says that a distressed home purchaser should buy from the distressed home owner at least for 82% of FMV of the distressed property.

Currently my plan is to graduate, get a raise, save down payment, and finally purchase a property aiming for a reasonable cap rate and cash on cash return.

Taxes - $2786  Vacancy - $1100 (1 months rent)   Cap Ex - $1320  Maintenance - $660  Property Management - $1320Net Income = $5,264 (Which is pretty good!)

You don't just "tell them" about it, you go thru the process of collecting it for them, and the state caps your "fee" for doing this at 12%, along with other required disclosures.