My wife and I have a child as a member on each property(last man standing gets it all). 

He reached out last night and we have an appointment this afternoon for a conference call with his new bookkeeper to review our account.

There has been significant growth in the last 3-5 years, with booming business and real estate sectors.

It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $459,000 Mortgage Amount (80% LTV): $367,200 Equity: $91,800 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop to 5%Monthly Expenses: Mortgage Payment (5% Interest): $1,971 (Now you are paying interest and principals) Property Tax: $260 (assuming has been increased with a 4% from last year) Utilities: $361 Insurance: $104 (+4% Adjustment) Vacancy: $166 (now after 12 months we can assume we have some vacancy at 5% factor on annual rent) Repairs & Maintenance: $166 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $3,028Rent Income after 12 months assuming annual rent increase at 5% : $3,323Cash Flow: $295$ per month 😊Long-Term Gains: $5,418 Principal Paydown year 2 (this will increase each as you pay off your mortgage $36,720 Property Appreciation (assuming 8% per year) $3,540 Cash Flow (this will increase as rents rise)Total Annual Return on Investment: $45,678 with just $ $22,789 remaining in the deal.

Last month, my wife and I purchased a fantastic duplex in Madison, WI, for $400,000 using an FHA loan.

Clark County which encompasses the rest has a lottery and is in the “process” of issuing licenses, although last we know there have been 4 issued.

Lastly, have you tried running the #s to look at long-term appreciation on a unit like this vs. a Single-family or Multi-family property?

Lastly, I’ll repeat.

Apologies for the typos of the last post - BP doesn't allow modifications anymore. 

Sure enough the new owner was not renting their newly acquired property.Since rents have sharply escalated over the last few years, a rental with too low rent is a red flag of possible fraud.I sold a property in 2014, for $30,000 over 10 years ago.