These days you also need to factor in delays to the renovation schedule due to supply chain and labor shortage.

Although you may not want to lose a tenant, there is a housing shortage, so it is likely not going to be hard to rent. 

I believe the housing shortage and low vacancy rate is a bigger influence.  

High ball your rent a little bit, because there is a bit of a renting shortage right now. 2.

@Wes Singleton - that is a good point, however on the development side of things you're looking at highly fluctuating (increasing) material costs as well as challenges on timing due to labor shortages. 

They will have smaller cash flow, but the area is growing so much, and there's such a shortage of rentals here.

Increased money supply, low rates, housing supply shortages, institutional housing investments, inflation, +++.... are we heading for a housing bubble?  

That's the property below...I am guessing that I bought the property for more money (some due to COVID shortages, some due to the work that was put into it) and that automatically triggered a tax reassment. 

Most of the city activities are 18+ and I don't see any shortage of tourism.

Although there is a shortage of inventory, you should be able to find something that will cash flow.