@Joe Mathew I know people that solely rely on VA's for the same however, as others have mentioned here, since cold calling is a numbers game, you must be invested in training your VA's to make sure you're getting the maximum bang for your buck.Personally, I've found the cold calling RoI to be the best when I am directly on the phone with the sellers.

No one is going to buy a multifamily at a 3 cap when rates are are at 7-8%.  

So I would say hard pass on that personAll IRR is the time value of money and it’s a set of dates and revenues/expenses to get the interest rate you pay yourselfTo answer the question Cap rates ignore debt financing

Putting a $200-$300k downpayment on a negatively cash flowing property in SF Bay Area would easily cover at least 10 down payments on 10 different Midwestern properties that each have a CAP rate of 8% or more.

  $250k -- I'll bring my own financing and she walks with 250k (and has to pay cap gains on the difference between that and her basis, which I presume is very low)$350k -- I'll give her $35k down and the balance as 300 monthly payments of $1050. 

Commercial property value = NOI / cap rate.

Assuming a 7% cap rate, this would put the property value right around $300,000.So my question is - if I were to list this Duplex today, would the listing price be determined off of comparables, or off the NOI?

@Allan SmithI didn’t even bother reading it because it was all caps.

I get a ton of bang for my buck for the 3% I pay Airbnb.

Your numbers are bang on we have been involved in some builds there too.