These areas have more affordable properties compared to Boston and are showing signs of growth, especially with infrastructure and job opportunities increasing.

Amazing beaches, food, nature, culture, etc.

The shorter the prepayment term has an impact on increasing the rate.4.

So long as you can keep it occupied and drive up your base rent over time, your property will appreciate and you will maintain (and increase) your equity. 

@Jake Faris Contributions for development and remodeling will be capitalized, increasing the property’s basis and reducing taxable gains upon sale, These costs are not immediately deductible.

Any tips on increasing income and lowering expenses?

The Birmingham market has been showing steady growth, with increasing demand for both single-family homes and multi-family properties.

You are already succeeding by living for free, which will increase what you can save for the next investment.1-2 years later, buy another one and turn the first property into a pure rental.

However, some amenities consistently deliver high value because they attract more bookings, increase nightly rates, or result in better guest reviews.

If the zoning map was altered where all 2-4 units were now RT-4 then developers couldn't just tear them down to make SFH and building owners wouldn't need to fight the city to increase density.