Is this the same for the cap rate, or is it calculated differently?

It is amazing how many people don't understand how interest is calculated or can't calculate IRR.

View report*This link comes directly from our calculators, based on information input by the member who posted.

Second post to the same topic to add clarity.You are correct in that the way all of these comparison calculations work are all incredibly similar, but it seems like you're not super clear on when to use these different rates and their interaction with each other. 

Option 2 seems like a more conservative approach but may take BRRRRing off the table so you will need to save longer to afford the down payment on the next property.If you haven't done it already I would run all of the contingencies through the BiggerPockets Calculators to see what will give you the best bang for your buck.I wouldn't get hung up on the fact you've never BRRRR'd, nobody has done it until they do it and plenty of people out there have proven that it is possible.

Also given that it would be a brand new property, we would assume we wouldn't calculate for normal maintenance, and capex for awhile. 

Last time I ran numbers with BP calculators, we’d need to put 50% down or have 50% equity to have any real cash flow on a rental here.

Did you just miss calculate your cash flow?

How much down, total debt and equity calculation,etc.

I think this article does a pretty good job of explaining how to decide between BRRRR and flipping, specifically what calculations you need to make when deciding which option works best for you.Best of luck!