But I could also profit off depreciation of the property annually, appreciation (especially if I make improvements), and tax deductions.

Now out nearer to you: Idaho Falls is currently growing at a rate of 1.34% annually and its population has increased by 5.58% since the most recent census, which recorded a population of 65,885 in 2020.

if they are providing all the cash no debt.and for easy math15% of lets say a NET NET NET of 400k  this is after all soft costs and sales costs. profit is 60K total.. and lets say you did a 50 50 thats 30k each and lets say you did not add any GC mark up to your build costs.. so to get to the net number your investor is putting up 340k in cash and these deals usually take 8 to 12 months.. so just easy math at 12 months thats less than a 10% annual return if you do it quicker little higher..

Energy (propane/electric) costs annually are atleast double to triple for an indoor heated pool, unless it is a small fiberglass insert which guests detest as they are just a little larger than a hot tub. 

For a $300,000 property, this could be $6,000 to $15,000.Mortgage on Rental Property:Loan Amount: $240,000 (assuming 80% financed at 4% interest over 30 years).Monthly Payment: Approximately $1,145.Other Expenses:Property Taxes: Estimated at 1.5% of property value annually ($4,500).Insurance: Estimated at $1,500 annually.Maintenance: Estimated at 1% of property value annually ($3,000).Property Management Fees: Assuming 10% of monthly rental income ($2,400 annually if rent is $2,000 per month).Vacancy and Turnover Costs: Estimated at 5% of annual rental income ($1,200).Total Initial Investment and Annual Operating ExpensesInitial Investment:Total Borrowed from Equity: $150,000Down Payment for Rental Property: $60,000Closing Costs for Rental Property: $10,500 (average)Total Initial Cash Outlay: $70,500 (initial investment from equity) + $10,500 (closing costs)Annual Operating Expenses:Property Taxes: $4,500Insurance: $1,500Maintenance: $3,000Property Management Fees: $2,400Vacancy and Turnover Costs: $1,200Total Operating Expenses: $12,600 annuallyExpected ReturnRental Income:Assuming $2,000 per month, annual rental income = $24,000.Net Operating Income (NOI):Annual Rental Income: $24,000Minus Annual Operating Expenses: $12,600NOI: $11,400Debt Service:Mortgage Payment on Rental Property: $1,145 per month, $13,740 annually.Total Debt Service: $13,740 (rental property) + $8,592 (equity loan) = $22,332 annually.Net Cash Flow:NOI: $11,400Minus Debt Service: $22,332Net Cash Flow: -$10,932 annually (negative cash flow initially due to high debt service).Cash-on-Cash ReturnInitial Cash Investment: $70,500Net Cash Flow (first year): -$10,932Cash-on-Cash Return: Not applicable initially due to negative cash flow.Long-Term Appreciation and AdjustmentsProperty Appreciation:Assuming a 3% annual appreciation, the property value could increase by $9,000 annually.Rent Increases:Assuming a 2% annual rent increase, rental income will rise, improving cash flow over time.

Considering the hefty property taxes in my current area, totaling around $9,000 annually, I'm contemplating selling and reinvesting in two properties within the Charlotte area.

Current revenue last 3 years (as worked part time) is 75-95k annual but is not near its potential of 150-185k annual. 

That gives us a little over $150,000 annually to live on.

I did that and it saved me hundreds annually on a few different policies. 

I'll add while not a big fan I checked into Zillow and they are suggesting a $90k annual spend for 5 possible leads per month in areas 1-2 hrs drive from my office and mostly buyers, that makes no sense for my current goals.