That then registers the property at a new “base rate” and your future rent increases all be “base rate” + Inflation as guided by the town.

Unfortunately, Covid decided to change my plans, and I made the decision to hold off, in hindsight it was a huge mistake and no one could have imagined that property values could have increased at such a high rate.

While less than 10% of the mortgage industry offers 40-year mortgages, here's something to factor in: they often come in with a rate increase of 20-35 bps.Assume 35 bps.$300k mortgage at 7.25% (30-year): $2,046$300k mortgage at 7.6% (40-year): $1,996Technically, it lowers the monthly, but not by much once factoring in the rate adjustment.

Putting that amount into it will only increase the loss.

Strong rental demand: With major employers like the Cleveland Clinic and University Hospitals, along with a growing arts and culture scene, Cleveland attracts a steady stream of renters.Revitalization efforts: Many areas of Cleveland are experiencing significant revitalization, which can lead to increased property values and appreciation potential.I can't comment on the Detroit market specifically, I have never been and have never done any research on it!

Since the last report, we have seen a significant increase to Median Price of New Listings, from $227,950 to $241,450.

If this property is hard to rent, or is functionally obsolescent (only 1 bathroom, no yard, etc), or has deferred maintenance that will be costly, or is in a location that is not appealing to Tenants, then maybe a sale would be a good option in favor of a property that has better Tenant appeal, which will likely increase rent and avoid long vacancies in between Tenants.An option to consider....

So what kind of property would it take for you to increase your cash flow by $2000 - $3000 a year. 

This would increase housing supply, helping to lower costs while promoting homeownership—a key goal for municipalities nationwide.With more homes available, renters could transition to homeowners, giving them a stronger stake in their communities and the opportunity to build wealth.

The article is based on # of sales, not price increase or decrease.