You can factor in about $50 per month per unit for both.Based on the numbers, seems to be a good deal but needs to verify the cap rate for the area and you can get that from a good real estate agent specializing in multifamily.The $77K cash infusion to increase occupancy, I am assuming will be spent on improving the interior finishes of the units.

For example, if you are buying a property that's valued using cap rate, then you have no inherent advantage looking at an area that has lower taxes.

I have saved up a reasonable amount of stock investments over the last 18 months, and have started to pull out as my concern continues to grow over the market reaching its peak as my shares start going to long term cap gains.  

@Suthy Maxwell with a cap rate of 3.75%, the price at $1.9 mil, and the rents at the amount you say, there is no upside to the investment property.

The property casflow around $130 monthly after property management, cap ex, maintenance, taxes, HOA.

Buy a turnkey vacation rental property right next door to my husband’s mom in FL at market value (no option to BRRRR). 8.5% cap rate if rented to long term tenant rather than as vacation rental. 4.

For sake of simplicity of calculation, assume 0% for renewal/backfill tenants.Lease term: 10 YearsStorage Income: $15,000/year with 3% annual increasesOperating Expenses: $8.00 PSF annually with 3% annual inflationCap Ex reserve: $0.15 PSF annuallyRoof replacement cost: Year 3: $200,000Sale assumptions:Hold period: 9 YearsTerminal Cap Rate: 10%Cost of Sale: 4%Questions:What is the property’s Current NOI?

I did not believe so but I could be wrong.If I am correct, the non VA loan LTV caps will make your plan very challenging. 

Can you share more details i.e. purchase price, rehab costs, rental rates, cap rate and your experience with property management?

How do you think about cap rates?