We might be able to put our heads together to find a short term rental that will fit his needs. 

So our pro forma estimate will give people the raw numbers they need to then draw their own conclusions.For my personal portfolio it depends on the age of the property, and how much work i am doing up front, i dont use a fixed number the variables are too great to apply a one size fits all number.As for cap rates, i feel like i answered your question.

All my hats fit quite well thank you very much.

NOW Let put the shoe on the other foot and see how it fits...Lets say you are a seller (which if you are an investor you will be a seller at some point) and you decide to or need to sell one of your properties so you contact the best agent in the area and ask them what your property is worth in the current market. ( by doing so you have established a fiduciary relationship with the agent. a relationship of  the highest trust)  The agent says that its worth 50,000 and you sign a listing agreement.  

If you are looking to shadow someone, attend a REIA as mentioned above. you will then be able to see who fits your personality and maybe able to shadow or work with them more. 

I am interested in driving for dollars now when I find these properties that fit in my criteria what exactly should i leave at the door should it be a note , a flyer etc. what method will get the homeowners attention to make them call I am also trying to put a system in place that I will use for my business is there any marketing techs that works better than others

Is this too much, and is there anything I am missing, and can anyone suggest locations across the country that fit this bill?

I honestly think that a nice duplex fits what I'm looking for better.

@Neil Patrick shoot me an email with what you are looking for and I'll send you some duplexes that fit the bill.

Before I join ANY organization/association, I try to attend at least one or two meetings to see if it's a good fit for me.