A high cap rate is an indication that the properties in a particular area are less desirable (i.e. higher risks) compared to other properties in the surrounding areas with lower cap rate.

It outlaws: Refusal to sell or rent a dwelling to any person because of race, color, religion, sex, familial status, or national origin.Discrimination based on race, color, religion, sex, familial status, or national origin in the terms, conditions or privileges of sale or rental of a dwelling.Advertising the sale or rental of a dwelling indicating preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.Coercing, threatening, intimidating, or interfering with a person's enjoyment or exercise of housing rights based on discriminatory reasons or retaliating against a person or organization that aids or encourages the exercise or enjoyment of fair housing rights.

The schools are always a good indication that the neighborhood is now at top value because they take a little bit to catch up with the neighborhood. 

I may be favor Austin a bit because I grew up in the area, but if you look at some of the Economic indicators, I think that the next 20 years will be huge for Austin!

Anything under that would be non profitable and an indication the PM has wrapped themselves around busy work.At the 150 count, hiring a clerk to handle the office interaction will allow you to grow to 350 doors.

Some great resources include:http://www.census.gov/topics/population.htmlhttp://us.spindices.com/indices/real-estate/sp-case-shiller-20-city-composite-home-price-indexhttp://www.bls.gov/home.htm

If I am writing an offer and plan to use a HML would I indicate "conventional financing" or "cash"? 

Some folks indicate you should have no debt going into REI, some say have an aggressive plan in place to reduce it to zero in a short time frame.

If you plan to flip it (indicated by your renovate remark in bullet #3) your numbers would have to justify it.

There you will find if the appraiser indicated "vacant" or "owner occupied".