All that while state and IRS taxes on profits are increasingly challenging, as refinanced funds for construction in progress aren't deductible expenses, thus not lowering tax bills.All that said, the "snowball quickly" effect you mentioned isn't quite happening yet.

@Quan Pham have you investigated at all the potential increases in property taxes and home insurance (need to have landlord policy) and included them in your cashflow calcluations?

Here’s what I see as key factors for scalability:Population Growth: The area is experiencing steady growth, which usually drives demand for rental properties.Property Appreciation: Reading’s property values have been increasing, indicating it’s becoming a more desirable place to live.

My goal is within 5-10 years to be making a monthly profit that matches our household income (currently 6.5k USD monthly but will likely increase overtime).

Set a screening criteria and follow it consistently every time—never deviate.

One key item where I think real estate scales (might also increase risk) is to have them in the same area.

Ideally, you'd want to have signed leases from each tenant, but the strategy part of it is that you also wanna make sure that you don't run people away while you are either increasing rent or preparing any units that are currently vacant.I would probably take a step-by-step approach.

For the past six months, he has been consistently 1-2 months behind on payments.

Do the schools have increasing or decreasing student enrollment?

They will ALL try to up your rates, but you can usually mitigate the amount of the increase with a new 4-point and a call to your agent.If my carrier changes because my agent found a better deal, they typically want to come inspect.