It has increased steadily over the past couple of years and is now at 3.90%.  

I recommend you do this annually to adjust for utility increases and other variables.

The longer term loans would have lowered your monthly payments and decreased the costs.As for rent, each year you need to look at rents in the area to decide how much you will be increasing the rent by. 

Property values also has increased due to the lack of inventory.

•This additional income can help offset costs and increase your total reported income for future pre-approvals.5.

The problem is that your debt payments are going to basically wipe out that $400K profit unless there is room to increase revenue or reduce expenses.

However, it’s important to ensure the seller is comfortable with the terms and that the property cash flow can support the agreed-upon monthly payments.Seller financing can be a good strategy to grow your portfolio with less initial capital, especially if you're able to increase the property's value through improvements (forcing appreciation).

Meanwhile, the more partnership-heavy investors often experience setbacks but use the leverage of partnerships to rebound.To me, partnerships increase both risk and reward.

A high property tax rate will increase the taxes more quickly as a percentage of total expenses when the property value increases.

In case you missed it, Detroit' Mayor Duggan announced that the value of houses in the city increased 23% in 2024.In the last 7 years, Detroit housing is up over 300%!