Just pulled up the property - looks like a turn key operation. 

They generate 2200/month.

Using a 10% vacancy rate, property manager costs and typical operating costs I am at at 10% CAP rate. 

Four houses, establish holding LLC and separate operations into a management LLC.

Every income property has two separate income streams, one generated by the property the other by your cash/ equity.Buying cash flow today costs twice as much as the prevailing mortgage interest rates based on the opportunity value of money to investors. 

Many investors also don't/can't add value and, therefore, can't absorb the correction and generate a positive return.My comments are geared more towards cash flow than market value plays.

I recently picked up a book called Small Time Operator.

You have to follow some rules on the operation under the LLC. 

In general they seem to generate more rent than regular rentals however they are more work. 

The brings me to the next step of understanding loss to lease numbers: organic vs operational loss to lease.