Quote from @Jack Martin:
One point that is omitted are tax breaks! When purchasing, everyone wants cash flow from day 1, great if it happens but that's unusual. Rates are double what they were two years ago and cash flows are, of course less, if at all. I own a 12% cap rate on an office building and my write offs are incredible. If you have 20% down that's great! If you have that and take a hit on cash flows for a couple of years, who cares? Everytime you paint your rental, raise the rent, but keep checking comps to ensure you can justify the increase. Generally, tenants take care of the minor issues because they are terrified that you will raise their rent. You are in control. Meanwhile, never lose site that THEY are making your payments. Losing $100 per month, so what! Eventually you will be smelling like a rose, meanwhile.
Honestly that's a really positive way to look at thing, makes complete sense.
