Do you think this trend is sustainable, or could we see a shift in the market soon?

I personally have been an investor in Chattanooga since 2021 and the market has shown tremendous growth and strength, and I'm super optimistic for the future.

Hi Max, a good rule of thumb is to start with your target market/ideal guest.

My units are rented but one tenant is month to month and under market.

Note at “standard” MLS market rent to price ratio, the property tax alone is ~20%.

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

Nonetheless, you can base the DSCR calculation on PadSplit rent (if there's a history of PadSplit income being produced) or short-mid-term market rent (an analysis done at the same time of appraisal).

or market to Lenders for refi's ? 

I focused on adding modern luxury amenities to increase the property’s appeal to the high-end market.

UNTIL YOU SELL THE PROPERTY... then the cap goes away and you are taxed on the fair market value of the house which is usually the new sales price less maybe 15%.