While inspecting the property, we went into the attic area to check insulation and found the largest stash of vintage pornography, toys, and BDSM objects and material I have ever seen...

I am also the host of the REV Multifamily Meetup, the largest monthly gathering focused exclusively on multifamily investing in the state of AZ with our last event actually happening on Nov 30 in Tempe.

Granted we have just witnessed one if the longest real estate recoveries in our lifetime following the largest crash in our lifetime (assuming none of us experienced the Great Depression) but there are no major signs of real estate faltering right now.  

Many places have limits on how much (percent wise) dues (where insurance is generally one of the largest expenses) can increase and I'd expect just about every coastal property to be above 10%, most well above unless capped by covenants, rules, or recorded declarations. 

This is a smallish town (pop 10k) but it is home too many large employers as well as Googles second largest data center in the world!

And it became a gerrymandering nightmare of the largest magnitude.  

One of my largest issues has been that while people are willing to pay a premium to live in the loop, often if they're willing to outlay the cash they're also not wanting to live in a shared housing situation. 

The closest thing I have to what was just described is a vacant lot next to my largest STR. 

They are two distinct transactions that may go to a different secondary lender, so they'll need two complete packages.

But 50% of a watermelon is better than 100% of a grape as Mark Cuban would like to say.Here's the financial snapshot:~$650,000 worth of property~$520,000 worth of debt service~$130,000 worth of equity ($43,300 each)~$1,300 cash flow (after PITI)$0 out of pocketInfinity ROIInfinity knowledge$5,000 set aside for future repairs (money from bank refinance)Lessons Learned:-Plumbing is one of our largest expenses-Check all the electric, worth the peace of mind-Granite is worth the extra cost even on <$100k homes (better ARV, tenant proof and better tenant)-Section 8 isn't so scary if you've got a good tenant-Having a truck is a game-changer!