Quote from @Kevin Epp: Lower rents here (WA south sound) In think lower most places to get quality tenants 

I recommend dropping your price (not your standards) and renting it for a shorter term to get through the winter months, then look for a one-year lease again in the spring.If money is tight, you may consider selling.

The property’s potential for strong appreciation, combined with its appeal to high-quality tenants seeking modern living in a historic setting, made it an excellent addition to my portfolio.

The property’s potential for strong appreciation, combined with its appeal to high-quality tenants seeking modern living in a historic setting, made it an excellent addition to my portfolio.

Additionally, ensuring the renovations met both current rental standards and future plans required careful planning and oversight.

This investment aligns with my strategy to develop high-quality rental properties in thriving neighborhoods, where both rental income and property values are steadily rising.

This investment aligns with my strategy to develop high-quality rental properties in thriving neighborhoods, where both rental income and property values are steadily rising.

Common concerns in pre-1940s buildings include outdated plumbing, old electrical systems, and structural issues that could be costly to bring up to modern standards.

In the next few months, I'm looking to get a standard CA NAA lease with RUBS included for billing the water and sewer, as well as requiring tenants to have their own renters insurance, as that is not something they are currently required. 

as mentioned above i would find a househack property in need to cosmetic upgrades that has below market rents. make the necessary upgrades (ie. appliances, flooring, paint, laundry, fixtures) allowing yourself to bring the property up to market rent standards and increasing the rent.I'm not too familiar with the market/properties in MI but in central MA we have a lot of triple deckers that are 100+ years old.