Supply and Demand11.

There's a lot you can do remotely such as listing on websites, pricing strategies, arranging/order supplies, guest communications, going to the property and doing work on it (note: travel time generally doesn't count).

Medford (North Boston) happens to be a low supply/high demand market so I absolutely need to get more comfortable with consistent rent increases but those increases need to be researched and in line with the market. 

We just have to hope mortgage rates decline a little bit in 2025 while the supply does not drop so that we can have more home sales in 2025 compared to 2024.

There could be a "double whammy", a recession (which we seem overdue for) then a drop in interest rates which leads to a big influx of new housing supply. 

Construction is mainly CMU, Concrete, and Steel (at least for my projects), and there is a bottle neck of those resources as only few supply the area.

Finally, The rent control discourages further development, limiting supply which results in higher rents.So rents go up, but the rent control advocates are too uneducated on the economics of the rent control policy to see their role in the rent increase.Another consequence of rent control is no value in keeping the property as nice.

I guess my challenge right now is to define the strategy and balance all the factors, such as job and population growth (value increase), cashflow (demand & supply market, interest rate, property tax, maintenance cost), and risk control (insurance etc). 

As to others points rents will change with supply conditions.

Generally speaking solid insurance and a good umbrella policy will provide ample financial protection for most liabilities.