It's the proportion of assessed value to the whole that drives what we pay in taxes. 

Could you have bought a run down off market property and lived in it for 2 years while you did the repairs yourself to save money and come out with proportionally more equity.....yes.   

Then you take it proportionally from the assessed value to the actual price you paid. 

What happens in real estate is that as prices go up rents do not increase proportionally.

Lol, but proportional correct.

This means that the income and tax consequences will flow directly to the members of the LLC in proportion to the their respective LLC membership interest.

We tend to keep things small and compact to save money leaning toward the tiny house movement.In the bigger cities in Denmark there's always neighborhoods that stay attractive no matter what the global financial situation is.

I wonder though if it matters if the neighborhood is a high proportion non-owner-occupied?

I myself still drive a compact car, drink water out of the faucet, and deny myself the same updates that I give my renters.

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