If you have any questions I am happy to help answer on-line or off-line, don't hesitate to reach out.

Quote from @John Paul Palace: So has anyone out there gone the route of Rent to Retirement?

. - When we've review these options with clients the ending outcome is typically that it's easier to forgo the 121 exclusion if you want to keep this property; and do a cash-out refinance (taking on more debt isn't taxable) instead. 

80% LTV, each unit rents at $1,000 - no cash out. 

I wouldn't touch anything outside the urban core. if your strategy is to buy existing and old I'd recommend not to. as a newer investor depending on your liquidity look at build to rent development. building investment properties below market value by 25% and refinancing out of it to do it again. the urban core has tax abatements as well that are 15 years right now you can apply for. that means that taxes will be around $600 to $800 per year. there's cash Flow but the existing inventory market dried up a few years ago in the urban core. local realtors are going to push you to the trash areas like hilltop, south linden, etc because it's the only place numbers work. columbus is great, but remember a tenant who pays $1800 a month is different than a tenant who pays $900 a month. let me know if I can help any other way! 

Unfortunately, with the number of pivots that are publicized and at inexperienced investor’s disposal, there’s never been more avenues for inexperienced investors to hold on too long.I hope inexperienced investors are mindful of this because I am constantly interacting with investors who are falling for these traps and doing immense harm to themselves, even if they may not be fully aware at the time of their decisions.It's crucial for investors, especially those just starting out, to recognize that not every investment will pan out as hoped (unlike what the gurus will tell you).

I will reach out tomorrow 

I think we are competitively priced, so most of out tenants have been renewing, but we plan to test higher rents in 2025  for our larger apartment buildings to account for the steep increase in insurance prices.There have been A LOT of new apartment buildings put up recently in the Cedar Rapids metro area, so depending on the class of tenant you have, maybe that could account for some of softening you are seeing? 

@Hiyun Park only experienced investors can DIY everything in Class C Midwest areas like Detroit, Cleveland, St Louis, etc.Hopefully the info below will help you:-----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If you're in a high-cost area, consider out-of-state markets where you could buy a rental property outright.