Truthfully, we'd do this even if we were paying a slightly higher rate, but the decrease made it all the more palatable.

I'm also basing my analysis on buying at a 20% discount with 25% down which decreases the mortgage payment substantially of course.  

So even if your values decrease, your taxes may still increase.Working in a tax office, I can tell you, that house you are looking at could very well end up costing more in taxes at 75k next year than it does at 92k this year.

The way things are going the HOA will be bankrupt if we don't increase assessments and a bankruptcy will decrease the market value of units. 

Any opportunities to decrease expenses?

Going through the county website I found my neighbors property is assessed about 40K less then mine after a borough decrease.

I haven't checked into how to do it legally in a lease, but I'm going to try and start finding more ways to motivate my tenants to decrease utility use with some type of financial dividend that gets returned to them quarterly if use is low.

However, I'm busy with career and family and can probably count on more maintenance involvement with this new property, and a PM would of course decrease the net cash flow.

Consider averages for length of time on market , average rental rates increase/decrease, market rental range within school district.

My yield decreases a small amount but is multiplied buy the amount of deals i can do at one time.