Getting in is overall cheap, but I wouldn't let anyone do arbitrage without them maintaining the property and paying a premium in rents.I am not sure if I agree 100% with @Donald Brooks.

But still waiting on it.I also use Stessa.com to bookkeep and they even have a banking feature now, making it easier to start up an account per property!

The compression of illiquidity premiums and return expectations is another added bonus.  

These tenants are month to month and are paying a premium for a very nice unit. 

There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guidesI really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts

If you have a premium ultimate rewards card you can transfer these points to that UR account which effectively doubles their value (similar to the AMEX membership rewards points) so it's almost like you're earning 10% in those utility categories and 2% on everything else.IMO the flexibility of membership rewards and Chase Ultimate rewards far outweighs actual cash back because with a little bit of effort you can get a lot more back in redemption. 

For example, if you are looking to connect with other members near you, want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/usersI really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alerts

Also I am not too sure if this is the actual premium.

Another thing to consider is that premium (low) capitalization rates are GOOD if your play is to buy, reposition, force appreciation, and sell.

Also regarding the NACA loans (had one buyer try that once and it actually failed, but its a really new program to our area) If i had a proven lending source that a buyer has been drug through the mud for a few months, i'd be willing to pay a premium for them too.