It has strong numbers with a cap rate just below 10% and photographically appears to be in good condition. 

It seems like the advice when running the calculators is to budget $100 per unit each for cap ex, management fees, and maintenance and 5% for vacancy.

Plus 10% cap ex (440) 5% repairs (220) 5% management (220) that’s about 2200 left per month.

Borrowing costs are just one of the variables, so when rates go up it’s just a matter of altering my strike price to solve for the same performance as I was forecasting with lower rates.What I’m hearing is that the agencies are reaching their annual caps and have been awarded too much business lately so they are just trying to shift market share.  

We have a hard-core sellers market right now and I've been seeing properties fly off the MLS that are performing at around a 4 cap and have negative cashflow.

Identifying the current state of the market and your cap rate vs IRR goals will be another critical factor.

If you have a ton of surplus money you can invest some now for experience and wait to invest the rest until the cap rates rise again.

2) Cap Ex and Repairs can be bumped, management will most likely be lowered3) Check your vacancy assumption vs market3) Good conservative growth assumptions(1%)

Turns out I bought the property CHEAP (Thanks Bigger Pockets) and using a 5 Cap rate I stand to take $500k out of the property and completely pay off my HELOC. 

I was checking this one out from Sears https://www.searshomeservices.com/home-warranty/compare-home-warranty-plansI'm debating if it's worth it since they charge $75 a month and $100 deductible per claim up to 10K per issue with 50K annual cap.