. $1500/month cashflow which is good as well (assuming you have budgeted for repairs/maintenence/cap ex all that as well). 

@Gerald Maczuga,The Long Term Capital Gains rates for 2024 include a 0% bracket for "married filing jointly" that caps off at $94,050.  

And of course, you don’t qualify for the full 121 primary cap gains exclusion….from your numbers, 5/18’s (about 28%) of your gain is exempt under the 121 exclusion since you had Non Qualified use for 13 of those 18 years.This doesn’t consider whatever time, if any, you actually lived in it between 2011 and 2018

This will be my first rental property so want some advice.Purchase price - $195KDown payment - $59,176 (25% plus other closing)Annual rental income - $29,424 ($2,452 a month for 4BR)CoC return 10.7%Cap rate - 9.7%; Price to rent ratio - 6.6Cash flow will be over $5k per year after paying taxes and mortgage.

In Lake Tahoe many condos are experiencing huge increases in HOA to cover increases in insurance and cap ex and many owners are selling. 

This is why 100s of investors from Ca have been buying in the Midwest for many years, 10% net caps ( used to be 25- 30% ) are to be had.

While some use floating rate debt, for say, corporate unsecured lines of credit or capital commitment facilities, they also tend to use Swaps versus interest rate caps, and often times will build interest rate collars on their floating rate debt.  

You will need to create a full data deck on the property you own and what the 3-year appreciation, cap upside, etc has done for you.

With four operational STRs running out of it, the estimated cap rate will be 15-17%.

That said, I would 100% put a cap in the utilities.