What is the typical target cap rate/IRR range for a hospitality, retail or apartment complex?

I’m just thinking I I could jus keep it there for cap ex right vacancy maintenance fees

Depends on how much detail you want to get into but their is a spreadsheet by @ Sam Tato in the files section that details cap ex.

I heard from one lender than their HELOC would be capped at 85% LTV based on purchase price for the first 12 months after closing.

Cap rates too low and prices high.

I pay approx 1/2 that rate for my rentals.The others are correct though, you factored light for repairs and missed Cap ex and vacancy.

You have your 'owner's hat' on get rid of it and put on your 'renter's cap'.

I do have an investor rehab loan for those too but the rehab dollars are capped at just 35,000 on 2 to 4 unit buildings.The loan limits are based on Conforming loan limits by county.

I’m sure you’re more informed than the average joe so as long as it cashflows after you move out, it’s in an area you’re familiar with, you have reserves for cap ex and 3-6 months of mortgage payments and have a business bank account setup you should be good to go.

You can find cash flow in Indiana or  Memphis or Cleveland or Buffalo and make $200/mo per door (unti the cap ex hits) or you can house hack a 4 plex in a good location in Sacramento for 3.5% down,  have your 3 neighbors pay the 3.5-4% note, live for free until you are ready to upgrade, keep the write offs and pick up 5%+ per year in appreciation (with the right location).