It's like driving a railroad spike with a tack hammer.

Apple, Google, Xerox, Fuji film, and Meta are all coming into the area. 5k people a month move to the area which has created a housing shortage, rent spikes, major appreciation (not just due to inflation) and you can still find single family homes for sale on the MLS in good condition for ~250k+ Tenant-landlord laws are landlord-friendly and taxes are low.

Louis market over the years and I have seen a serious spike recently. 

As usual, fantastic post @William Hochstedler:Because of the reason that William stated, multifamily has spiked in Utah.  

When you look at appreciation, you want steady growth - not crazy spikes or valleys.

On to the numbers...Link to photos: https://app.box.com/s/6foj92rbaxy0kifb2n59x5o0jyxm92b4Subject Property LP: $160,000Purchase Price: $115,000Rehab: $40,000Total Funds Needed: $155,000ARV: $187,000Total Rent: $2000Tax Rate: 2.54%, currently about $3,000 annually (assuming a spike after refi?)

@Brian Pham be careful using credit cards for the rehab, I've seen investors go that route and once they're done with the rehab, they can't get out of the Hard Money Loan at a good rate because of their DTI ratio which spiked due to the credit card usage, if your only option is using credit cards, use a higher interest rate calculation when projecting your BRRRR strategy to see what your deal really looks like at the 6-12 month seasoning period for the refinance

If you use bonus and deduct the full business use of the vehicle in Year 1 you will see a huge spike in taxable income in Year 2 since you've used up the depreciation tax shield in Year 1. 

I sell it as stabilized heat cost where their monthly bill never spikes during the colder months.

Looks like rates spiked and have started to settled downward again!