As Basit Siddiqui said, 2.9% mortgage has a big value especially with official inflation around 8-9%, you are basically getting free loan if not better.Renting will pay down your mortgage and you can tap into equity via HELOC if you need.You can also consider Airbnb if the location supports it. 

With inflation and construction costs spiking, insurance companies will increase prices.Property taxes - jurisdictions are being hurt by lack of real estate transactions where they make fees as well as covid shutting down businesses several years ago.

This price seems about right with materials, gas, dump runs, inflation and if this person has a helper or 2.

BrianNothing prevents tenant from running the water, kicking holes in walls and door, or other vandalism.However, these things seldom happen as retribution.More likely, a tenant fills up an inflatable pool every other day in the summer, or fails to report that the kitchen drain is leaking, or that the boyfriend beats her up every weekend and busting up the place, or that tenant lets a dog do his business on the carpet, or overflows the tub because they fell asleep.While a good tenant will agree to a fair water policy; the court will typically throw out the policy in an eviction.Keep in mind that you can get a leak notification from water department via “clear-reads” through the mycleveland water website.Usually bad tenants are multi-dimensional... they tend to follow a pattern... low credit score, extension criminal background hits such as driving with suspended license, expired plates, drugs, panning the rent late, refusing to pay the water, violating trash pickup guidelines, police calls by the neighbors, no-show for service calls, removing smoke retractor batteries for the kids toys, not replacing burned out lightbulbs, not taking care of the yard (in a single family”, busting blinds and screens, etc. 

Most pro forma are inflated and underestimate cap ex, repairs, tenant turnover costs.

@Jeff QuinlanI don't see much of a big deal with requesting the tax return or the part of the tax return that shows the rental portion.Seeing the numbers on the return shouldn't provide you any further re-assurance.You should do your own due-diligence.The seller may not have many any repairs/improvements and in which case the building may be in bad shape and you, the buyer, would have larger expenses going forward.The figures on the tax return may be inflated/deflated.etc.

We raise them with inflation so it's nothing dramatic but this is our specific board. 

The price you purchase the property at should be market price, a reputable turnkey company wouldn't inflate their values and third-party appraisals should back up the prices.

Don't bite his or her head off when those 3rd party things picked by the builder turn that $6500 into $9500 (or whatever), he wasn't acting in bad faith by using area norms and not knowing about the builder's junk fee or other inflated 3rd party stuff. :)

@Derek Antonissen Im saying be cautions buying now, Prices are inflated, I watched the last crash as a Broker listing foreclosures, and saw plenty of people jump in when the market was good, and many lost them when the market tanked and they could not support the value when they had to re-up there loans.