Quote from @David Krulac: Why are your rents increasing so much right now?

After  3.5 years we have permits for a 17 unit redevelopment project.We had hopes that we would break ground within a year of buying the property....that fell by the wayside for 2 reasons:1) we had worked with the city to increase density through an affordable housing scheme that did not go as planned.

Hopefully your local market is growing - population and jobs increasing.

But like most markets, it's getting increasingly difficult.Plucking something from the MLS is tough because there's not a ton of inventory.

They have increased the price now the basic is $99.

Of course, if you do flip it you'll want to put in nicer finishes so that would increase your rehab costs and that needs to be factored in as well. 

There might be Some exceptions such as you did a bunch of repairs/improvements which increased the value of your home .

I finally sold it for a small fraction of what I paid for it, but I was out from under the HOA fees and taxes which at about $1,700. per year, which is a sizeable sum for me, and as we know, these fees increase every year.Bottom line is, DO NOT purchase property there for an investment. 

It's a valley in bitcoin's price, and the price has increased 4X since that point. 

We'll eek out a 10% cash on cash but will convert a half bath to a full bath to increase the value substantially.