The reason I ask is because most deals I see on Crexi or Loopnet or anywhere else create negative cash flow under 7 or even 10 year terms with 7% - 8% interest rate.

Higher rates and tremendous demand for inventory by both owner occupants and investors have resulted in an inventory shortage all over the US - in Oregon and in Ohio.Hope this gives you some things to think about. 

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Or at least what are investors looking for today as far as return and cap rates?

The drop and Swap is about all we use here due to the confiscatory tax rates based on sale price.

It’s growing fast, has good schools, and offers affordable homes compared to Houston.

This is because the dwindling cash flow due to the increased rates has resulted in higher cap rates.  

If rates come down (most likely not in 2025) you can refinance or just shovel cash-flow and pay it down quicker. 

Finally from a purely from a cash outlay prospective short term, you could rent a house with roommates and your payment would still probably be Lower than house hacking because rates are so high, over the long period 5-10 years obviously it would cheaper ti buy, hope that makes sense 

In this case, you can use Rental Income from the units that you will not be living in and that income can count to help you qualify.FHA rates are going to be lower than conventional for you almost always, but FHA does have a 1.75% funding fee.