I am trying to think of any time cap rate would matter more to me, so cash flow would be the primary driver. 

Purchase price: $80,000 Cash invested: $10,000 This purchase was more of a land play than anything else.

Others have pointed out the lack of location as an issue, but there's also the issue of your definition of cash flow.How did you calculate it?

You should always have cash set aside as reserves, going all in is very risky and foolish regardless of the investor. 

I can offer you 65% of the note’s balance IN CASH!    

I would expect low cash flow.

With their lower price points, the barrier to entry is easier + definitely possible to cash flow out there, but depends on how much you are aiming for. 

Many landlords I know are using refinances as a way to unlock equity from properties without selling them.That cash-out refinance then funds:- Acquiring another rental- Renovations to boost rents- Paying down higher-interest debtFor those of you with established portfolios:- Have refinances helped you scale, or do you prefer to keep equity in place?

I’m sure many investors here—especially those looking to break into cash-flowing commercial properties in Georgia—will benefit greatly from your insights.

At Year 5 the cash flow increases significantly and Cash on Cash return is 4% and CoC is 10% at Year 11.