The market is crazy right now and will be for the next 2 to 3 yearsdue to inflation devaluing the dollar, inflation increasing newbuilding costs.

It would actually be a net PROFIT given the huge increase to tax revenues. 

If private companies continue to provide the insurance, I suspect we will see further increased premium costs which will need to be reflected in the rents tenants pay (all tenants: LTR, MTR, STR).  

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.

That sounds like massive renos (ie new floors, painting...).Yes as you acquire more properties, the chances of having multiple vacancies (no matter how leases are staggered) increases.

Repairs made while the property is your primary residence are not deductible, but improvements can increase your cost basis, reducing future capital gains tax when you sell.

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.

Additionally, the house is 25 years old and could use cosmetic updates to increase rental appeal.

Job growth is steady, and with it comes an increasing need for housing.

Real estate has always been in the back of my mind as a way to increase our wealth and provide for our family.