The HOA is also on the higher end for a townhome ($170/month) but you are getting a more expansive community center. 

With the huge expansion of the money supply we'd see some meaningful price inflation don't you think?  

I was a Realtor in Boulder, CO for many years, and that town was pretty much bubble proof because they ringed the whole town with public open space, so no further expansion was possible in the town.  

If a portion of property is rented out, and a portion is used for personal purposes, any reasonable method of allocating expanses between personal and rental use is allowed."

Also the area continues to infrastructure improvements like the expansion of roads and highways which shows a potential runway, Hope this helps in evaluating a new market.

The expansion of an existing facility is always more profitable thanthe initial purchase or build.A.

Close to the military base, expansion from raleigh, amazing rental.

If there is no expansion tank then it could be over pressurizing and that is a more expensive fix).

After Year 5, you generally are only growing income if revenue increases faster than expenses AND cap rate expansion (hard to defy the market here).Finally, in real estate, as Taylor said - any real estate offering with an IRR >20% is a red flag right now.

There must be someone in this expansive BP community that has hired a personal assistant to handle their day to day property management tasks.I know you're out there.