If you have high quality properties with high-quality tenants your management time will be almost zero so there is no need to decrease your profitability by hiring a manager. 

Here are my numbers for my primary residence:Purchase Price: $212,000 (2010 purchase)Amount Owed: $284,898 (2019 cash out refi to pay of student debt and extra for investments)Current Loan term length: 15 years (2020 refi to decrease interest rate)Current interest rate: 2.375%Estimated Home Value: $650,000+ (realtor suggested listing for $815,000)Monthly P&I Payment: $1946Current cash on hand for investment: $120,000My consideration: I’m considering refinancing to a 30 year mortgage and doing a cash out that will bring my new monthly payment equal to that of my current monthly P&I.

Increasing the number of coins (properties) actually decreases the overall chances (risk).

If prices of new builds can't decrease due to increasing input costs, that forces resale prices upwards, otherwise eventually there will be a supply issue.What places in AB would you recommend (or that you're considering)?

@Justin G. you’ve mentioned ways to increase income, which i agree are very powerful, but another often overlooked aspect is decreasing expenses which also contributes to an increased NOI.

Explain to them the benefits, earning interest on their money, decrease the amount of taxes they'll have to pay as it'll be spread throughout more years, etc. 

Do you ultimately decrease the CapEx % when calculating costs since you don't have these expenses? 

Pending Sales decreased 28.9 percent to 543.

The five county region saw no change in new listings from the preceding year and a 8.6% decrease from the preceding month.

Where I'm getting stumped is knowing how much appreciation you forced from increasing rents and decreasing expenses to gain a new purchase price.