Best factor in the cost to build the property as a total loss at year 20.

Should I consider refinancing to help decrease my monthly payment (my current rate is 6.41%), should I cut my losses and sell the property (which I’m hesitant to do bc I don’t expect to househack again), or is there any other route I can take?

@Olivia Loesch what do you need assistance with to make your vision a reality?

@Nicholas WhelpleyTo assess a property's potential beyond the 1% rule, consider factors like cash flow, market trends, income streams, house hacking benefits, risk management, long-term vision, and professional advice.

If the loss is manageable, you might consider taking the loss and moving on.

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.

is there to lend a hand.Build a strong portfolio: My long-term vision is to own multiple mid to large multifamily buildings.

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

Great job setting that vision and getting your parents on board.I'm not an attorney our CPA so I can't speak to those issues definitively.

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.