You increase rents every year rents aren’t dropping.

Assuming the Oakland rental market continues to remain stagnant/competitive with newer buildings going up, is property appreciation the only way to increasing wealth with my building?

The problem is that the number of middle income seniors, aged 75+ years old will increase from 8 million to 14 million in 5 years (by 2029).

However, with this in mind, contact the closing firm and ask for an escrow fee sheet to ensure that it somewhat aligns with the standard title/escrow fees that other closing attorneys offer.

As far as the tenant goes, it sucks to have to raise rent but its still a business and its likely that if they try to find another place, they will be stuck paying even higher rents than what yours is at if you increase it to 90% of market value. 

page=LoadVirtualDoc&BookmarkID=6536) that capped annual increases to the Taxable Value of a property to the lower of 5% or Michigan's Cost of Living increase.

We had nine months straight of increasing inventory.

You will get away from income taxes and annual registration fees by going to the townships, but your property taxes skyrocket which may offset some of the rent increases.

However, I just received the closing docs, and the rate on the 6.9% loan has been increased to 7.8%.

Asset manager role would be to give advice on property that could be value added and increase the income on a property by small or big tweaks.