@Elijah Radford Nashville is one of the hottest markets in the world.

If you can't find the 4plex for sale, then your next hottest lead would be owners of 4plexes that have at least 1 empty unit. 

My house has appreciated faster than the the other house I would have chose- neighborhood changed quickly and is one of the hottest DC neighborhoods to live in.

I agree with everyone have a reputable Tech look at it and see what they say.I agree with your mindset it’s better to replace before it dies, typically issues come up in hottest or coldest day of the year when you will end up paying premium price for repair or replacement.

Out of the 3, Columbus is superior in any and every financial and economic metric you can put on the table...here are a couple things to think aboutA few things you may have not known about Ohio’s Capital City:2nd Largest City in the Midwest behind Chicago (And Larger than Atlanta, San Francisco, Indianapolis, Charlotte, Nashville, Fort Worth, Denver, Seattle...and many others)Port Cities are a Thing of the Past- Columbus is the "Center of the Country"Cost of Living is Quite Low with High Quality of Life When Compared to Other Large Cities1st Amongst the 10 Largest Midwest Cities in US for Population Growth, Job Growth, and GDP Growth.Realtor.com "Hottest Real Estate Market" in the US April 2019/ December 2020-February 2021AAA Bond ratings across the board#2 Metro Market in US for Mobile Network PerformanceAverage age 31yrs.

Hey @Laura MacDonald - Congrats on owning two fourplexes in one of the hottest housing markets in the nation! 

Nashville is predicted to be the hottest housing market in 2022-2023.

Purchase price: $91,000 Cash invested: $1,760 Duplex in the 14609 zip code; one of the hottest zip codes in the country (PRE-RONA). 2bd/1ba upstairs apartment atleast $200 under market rent (monthly). 1bd/1ba downstairs apartment atleast $45 under market rent (monthly).

Breaking even on an STR you have no mortgage on is a pretty poor return relative to what is available out there, even in the current market, especially given that you've got summer 2022 in there which was probably the hottest few months in STR history and may not be repeatable this summer.As to your question about year 1 vs. future years that mostly has to do with startup costs, so you should be able to subtract that part out and see what to expect going forward.