To give you some perspective on what those tax increases can look like here are some examples of the changes based on some of my properties that I own in the city:$4096 -> $5522 (+1426)$3850 -> $5516 (+1666)$3835 -> $6283 (+2448)These are only some examples, but all of the properties that I own have increased in its tax assessed value, therefore drastically increasing the taxes per year and decreasing annual cash flow.While tax assessments are normal it seems that this is a very drastic effort to recuperate losses.

So, this created a few issues along the way and ultimately a loss of potential profit.

Sometimes (talk with your accountant) a loss in real estate can off-set income in other areas.Let us know what you decide and how it works out. 

Job loss, divorce, severe illness, Covid impacts, etc.  

At the current rents, I think it would be a loss.

I’ll be out of state, which I know is a big red flag for many.Well below 1% minimum of Rent/Property ValueHoping to self-manage (Yes, another big red flag)Loss of capital gains exclusionMONTHLY SUMMARYRental Income $3,500Less ($3,440) Mortgage (2,900) HOA (390) Rent Ins (150)Less ($1,155) Property TaxTot Exp ($4,595)Rev: ( $1,095) !!

So that will be vacant and having losses during rehab.

I’ll be out of state, which I know is a big red flag for many.Well below 1% minimum of Rent/Property ValueHoping to self-manage (Yes, another big red flag)Loss of capital gains exclusionMONTHLY SUMMARYRental Income $3,500Less ($3,440) Mortgage (2,900) HOA (390) Rent Ins (150)Less ($1,155) Property TaxTot Exp ($4,595)Rev: ( $1,095) !!

Unfortunately their home was a total loss due to a tree falling, so I have agreed to rent them my STR as a long-term furnished rental while their home is being rebuilt. 

They indulged in luxurious residences, high-end vehicles, and extravagant vacations, all while their investors faced mounting financial losses.