This will increase the monthly payment however which decreases the cashflow of the loan. 

My thinking is that there is room to raise rents, perhaps screen for better tenants that take care of the place and decrease the maintenance cost and get the NOI up above $100k/yr.I would appreciate any advise that anybody has to offer whether its something I am overlooking, something I should look more into or what your thoughts are regarding moving forward with this deal or not.

- Annual Rent increase\decrease for the market. 

If there's a positive side, a housing crash decreases homeownership, pushing people to turn to renting - increasing the supply of potential tenants.

Lots of growth in Collin County and companies like Toyota and Liberty Mutal have brought in thousands of jobs and decrease home supply and driven prices up. 

Even if you don't agree with my numbers and need to decrease the return by 5% it's STILL ahead of an index fund.As you can see from the link above, over 30 years I would see a 23.98% gain EACH year.

@Robert Ellis Thank you for your insight, has there been a decrease in volume of transactions in Columbus?

Or you could simply just include a flat fee in the rent and advertise the units having certain utilities paid for.Offering below list price is difficult (but not impossible) in western WA, so you need to identify other value add opportunities that will decrease expenses or increase cash flow.

If that happens, property prices may decrease because everyone would want to sell their STR properties.

We're all familiar with the story by now: record prices, decreasing housing inventory, and continuing affordability issues.