Its great for me where I need to adjust to paying a mortgage and was worried about my monthly payment a little bit! 

Your net gain is your net sale, minus your adjust cost basis.

Then it adjusts every 6 months after that.

This sudden jump in rates has not fully caught up with market cap rates yet since especially in the commercial and multifamily property markets, transactions typically take 6 months to transact, creating a lag effect between interest rates and market cap rates since interest rates adjust daily.

Kudos for taking action and adjusting course when needed!

I very much appreciate the honesty around the current state of the market in the area and I will make sure to adjust our projections accordingly.We are excited to start our journey and looking forward to contributing to the BiggerPockets community.

If you are passive in those rentals (not real estate professional for tax purposes which requires 750 hours of real estate), and your Modified Adjusted gross income is over $150,000, then the cost seg is not actually going to save you any taxes. 

The carrier rating for Obie policies range from A+ to A-.You are probably aware that many carriers are leaving the State of California due, in part, to the significant regulatory challenges they have with making adjustments to their products that the state always has to review and approve.

I did a rebuttal on a few 1007's and had them adjusted. 

When that happens, you can adjust the rent to match current market rates.