If all goes well, my monthly payments could drop about $60 from a tax reassessment in about six months.

A lot of lenders used to apply 35% for expenses, but in the last several years, the numbers for supplies, labor, utilities, taxes, etc… have increased significantly.Also take into account the age, occupancy and how has the property been maintained, this will affect the expenses too

This kind of govt nosiness and overreach is why I initially decided against the financial planning industry before starting in credit. you can thank 2008 and all the fraud that went on for that.

If we take the same 4% annual appreciation as a conservative estimate for a multifamily property, it might also reach a value of around $180,000 today, but if it had significant value-add opportunities, it could be worth significantly more.

I own almost all of my properties here in Columbus and have a few in dayton. 

Sometimes it can take longer to place a *qualified* tenant into these properties as well so your vacancy can be a bit higher. 

Quote from @William Hochstedler: Utah has been booming for the past decade by every metric. my kids did deposits on ski condos at Park City  NEW development and one at Brianhead and those things shot up like crazy.. they need to keep it up so they can take good care of me in my waining years.

Painting, for instance- an amatuer could take their time and paint a house over the course of a couple weeks and do a great job, but a professional crew could do the entire job in a day. 

Take them to tour the property with you. 

It's a very big issue in my market, the #1 I hear from take-overs, how there place was decent, all was good at start but once tenant was in, they were getting a constant stream of maintenance notices.