I have talked to many brokers in the KC market and they all said that B properties in B neighborhoods in KC are trading at a 4-6% cap.

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I keep the feature disabled.

I am thinking of situations where there is a bad tenant who changes locks without letting you know, changes garage door PINs, resets garage door openers, or adds deadbolt that is accessible from only inside the house.Also for situations when temperatures drop too low and you need to access the house to open a faucet and the tenant is not at home.I have added kwikset locks with the rekey feature and also with a second deadbolt that has another separate key.

I'm currently putting an offer on a 6 unit property at an 8% cap rate, once rents are brought up to market rate the property will be a 10-12% cap.

I see people buying left and right - however when I "work out the numbers" considering income (rents) minus - mortgage, taxes, insurance, vacancy (5%), maintenance (5%), cap x (5%), and sometimes PMI the properties just do not cash flow and sometimes lose money every month. 

In terms of walkability It is close by to many shopping and dining areas, while also featuring a lot friendly social events within the neighborhood!

Did you consider the CAP and vacancy rates in comparison to the submarket or did you set your own standards?

Love to hear your experience here if you did end up going down this route, or any others who looked into it.What I will say is that guests greatly appreciate the ability to play their own music, turn lights and temperature on/off, and a variety of other custom features that I have built into the property for their convenience. I’ve also implemented custom signage to allow folks a short list of things that they can ask Alexa to do, which is critically important to clarify understanding and usage.

@Myres McDougal what is the cap rate and NOI for the building?