You may want to buy 12% cap rate mobile homes in OKC, you may want to flip land in Massachusetts, you may want to wholesale in NJ, you may want to move to Florida and house-hack a 4 unit. 

My wife and I also understood the fact that we were putting our primary residence at risk and made sure the deal could pay the mortgage, HELOC, vacancy, cap ex, maintenance, etc, and still cash flow positive.

Ask your lender if it is adjusts to the current market rate or if there are adjustment caps (meaning it can only adjust by a limited percentage per adjustment period).  

The downfall to this is that the overall market rate for rentals is essentially capped at the rate of which DoD pays service members for housing here (most single family rentals are in the $800-$1200 range)With this being an active duty base, deployments are going to happen; however, the vast majority of soldiers living in off post housing receive their housing allowance due to being married or with dependents, most of which remain in the area and paying rent while the service member is deployed. 

You can screen-cap them from your phone with the date and time.

Cap rate does not apply to a 4 unit, it is only applicable to 5 units and greater. 

You have to figure cap-ex, insurance, PM (unless you want to manage the rest of your life) time value of  money, maintanence, vacancy, turn over cost, and on and on.

About 20k net on 300k, ( about 7% net cap) not good.

Why I understand the factors that weigh into CAP rate, the key for me is the seller financing and potential to get into this for 5-10k-20k vice 20-25% down. 

They are saying because the property is a rental they only use a cap rate to define its worth not what it could sell for so they are only giving it a worth of 109k.