Thanks Yes, property insurance is an operating expense and decreases your NOI and cash flow.

Sure others may book before us if their calendar was already open BUT by the time my calendar opens demand has hightened as availability has decreased meaning I believe I get higher ADR.

*data provided by Washoe county assessorThe rental market in the Reno/Sparks area experienced a slight increase in rental rates in Q4 compared to the previous quarter, decreasing by $41 to $1,612.

I'm working on saving for the down payment which for me is a positive because from everything I've heard we are looking for rate decreases in the next few quarters.

This should relax as we expect to see rates begin to decrease. 

You can find higher ROI (on paper) here and probably in other cities…but the probability of actually collecting rent significantly decreases.

When prices are low, more people can buy, resulting in decreased demand for rental properties so rents fall.What causes the imbalance between buyers and sellers?

You can find higher ROI (on paper) here and probably in other cities…but the probability of actually collecting rent significantly decreases.

Depending on how many restrictions and what restrictions you put in the new deed (if any) it may decrease the value of the new lot BUT... it may not especially if those restrictions are congruent with the types of properties in the area AND doing so will then ensure that whoever puchases the lot next door to your existing investment property won't be able to build something that will decrease your property value, in fact if you do it properly the restrictions should help INCREASE your property value on the lot you retain. -- So really, yes any value you loose on the split, you should make up for in ensuring that the property next door (whenever it is built) is not run-down and of a certain caliber. 

Every year, rents increases, outstanding mortgage balance decreases, you may refinance into more ideal lending terms also.