Quote from @Kelly Farmer: My experience:Bought: March 2021, $64,900Sold: April 2024, $48,500 - $5,000 (agent fees/closing fees/etc) = $43,500Rental income (rents - expenses): $5,600Average annual returns: 2.9% (approximate)Net loss at sale: $15,800Positives:1.

build a multifamily to rent. lower risk, easier to execute, easier to underwrite. anytime you sell there is a 10% equity loss and capital gains. new construction in columbus appreciates at 8.65% per year. almost no reason not to consider it. land is a buyer market, you can get to better locations than you can buy existing, etc etc etc 

That's a 260,000 opportunity loss after 10 years for buying my condo instead of renting it.But that owner of the $4,800 mortgage (The bank owns the house) is still losing 2,400/month in opportunity costs.

Take a loss if you must.

This was actually not the case and on a 300k construction budget you can imagine how many headaches, loss of time, and money this caused.

Hope fully he can hold until the economy recovers, but as I recall he was using hard money for this....? 

It's just 40%-100% more expensive than last year.One thing I'm seeing is that carriers are limiting "loss of use" coverage.

Loss runs hurt you much more in things like workers comp than property insurance.

His fees aside, a loss of revenue for this location this summer.

Factor that with a total-loss fire, half a dozen insurance claims for smaller fires, easily a hundred evictions, a thousand months of uncollected rent, and a shooting in 2010 that is as close to wearing handcuffs as I desire.If you live in Toledo and are ready to holster up and manage your own portfolio then 43608 has some real potential.