That being said, when it comes to housing prices nationally and locally, there are many factors besides inflation to consider besides just property values.

Tell him there is a termination fee, but you'll waive it if he shows a copy of the death certificate.That's what I would normally do, but it depends on how long he's been a tenant, how good he was, and other factors.

@Matthew Lamoreaux I think if you can find a rental, long-term or short-term, that cash flows well in today's market then this should be a factor that should be viewed as icing on the cake and should be used as a potential solidifier of a deal.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

It also sounds like this is a newer venture for you so unless you have a key partner with experience banks will also factor that into their loans. 

You could then get more sophisticated and factor in refinances after 5-10 years and how that money could be re-invested into acquiring extra units. 

It is actually another conversion factor which can be used in your ads and adds both a connection option and “eye real estate”Conclusion:The Google Ads game is already highly competitive in today’s market and requires an investment of several thousand dollars per month to see serious traction.

These factors cause a bit of anxiety and have led to this whole re-evaluation.

Depreciation will continue to provide tax savings for years to come, of course.Appreciation isn't cash earnings, of course, until the property is sold, but it does factor into the overall wealth building opportunity in real estate investing.

And of course factoring in insurance and taxes.