However, in 2-3 years, they will require regular trimming, which will cost money.

First, always aim for clear and regular communication.

I would also advise that you keep an emergency stash of cash in your regular bank.

Best of luck and please keep us updated here on what you decide to do!

I plan to regularly re-evaluate and refinance properties to pull out equity for further investments without over-leveraging.12.Professional Management: I’ll consider hiring a property management company to handle day-to-day operations, freeing up my time for further investments and strategic planning.Additional ConsiderationI've considered using the BRRRR method instead of paying off the mortgage first.

Here are some data points below from the past month:🏠📈 Real Estate Update 📉🏠Here's the latest market report (based on single family homes):🏡 Mortgage Rates:30-year conventional rate today is 6.63%30-year VA rate today is 6.20%💰 Median Sales Price:May: $475,995June: $485,000July: $487,483📈 New Listings:May: 2,141June: 1,920July: 2,032📅 Median Days on Market Until Sale:May: 12June: 13July: 14📦 Months Supply of Inventory:May: 2.4June: 2.3July: 2.6

And those homes had much more recent updates. 

Hopefully you can update us on your experience, on ESS and if you go with DaVinci locks.

@Shweta Sharma, A sale of a coop is seen as the same as a regular sale of real estate for purposes of the 1031 exchange. 

I utilized 7% for CAPEXand 7 % for maintenance given recent updates .Tenant pay for electricity and gas.