Rented for about $1250/month at the time. 

I am an investor and Realtor here in Cincinnati.

Instead, look at your major location-specific operating costs as an investor.

"Inflation expectations" is a purely rational and logical way to look at it, but let's consider that bond market buyers/sellers aren't 100% comprised of Vulcans, and that there are highly emotional and irrational individuals among them, as well. 

He gives out a code at the end.

Must be only one at a time, right?

Hello everyone, I now live in Manhattan and own one rental property here.

Fed rate means nothing at this moment.  

We now are looking to create an LLC and setup the necessary legal documents to protect both parties and layout the terms of the agreement.

If he bought this property ages ago for $33k and it is only worth $50k now, I just don't think that the juice is going to be worth the squeeze.