The potential income on the timber, and the increasing land price over time.How did you find this deal and how did you negotiate it?

To do the cash out refi I want(leaving more cash in the deal than taking out) I would only have a $200 increase in the PITI.

AirBnB and first time home buyer rates have no influence on this because that is A and B class property for the majority of the transactions.

Right now, i'd say leverage is your friend, rates expected to come down, which will only drive demand therefore increasing home prices..

Then literally hundreds of these of come across my desk seeking financing - and typically the pro forma looks great while the actual historical financials show almost no more profit than Simple long term rentals after paying management fees, higher interest rates necessary for these type properties, increased repairs and maintenance, and faster depreciation.There’s also a personal reason I don’t invest in these properties ( I DO finance them).  

This new calculator is basically the free one real estate influencers are giving for free.

Also, any increases in Real Estate taxes.3.  

Hell - even our midwest property with no natural disasters was a 20% increase. 

Come even the slightest ripple (an increase in property insurance, an unexpected repair, etc.) and suddenly you're drowning in a sea of negative cash flow.Also, are you including both professional property management and vacancy in your operating expenses?

@Travis Biziorek you don't have to deal with the owers that have their heads in the sand about market changes and just expect their rents to increase every year.