Cleveland, Ohio seems to be the place to be in terms of cap rates and distance from home.

For my clients, they're looking to charge a premium rate, so I use this formula to ensure the value justifies that higher rate (better bookings vs. more bookings).

As prices increase, fewer people can afford to buy homes, forcing them to rent.

Recapture typically happens only when you sell the property.If you use the property partly for personal use and partly as a rental in a given year, depreciation and other expenses must be prorated based on the number of days it was rented versus personal useBased on the current tax laws and regulations, once you've taken bonus depreciation on an asset, you cannot "capture" additional bonus depreciation on that same asset in future years, even if the rates increase.In the 2024 tax year, the rate for bonus depreciation is 60%.

The terms are also similar to conventional investment property loans - 30 year fixed rate, 30 year amortization (or up to 10 years interest-only).

Hyattsville and surrounding areas are more affordable than other parts of the metro. 

Given your goals, Indy could be a great fit—affordable pricing, solid appreciation, and strong Section 8 demand with reliable property management options.

If you've owned for at least that, you're good.If you do a rate/term refinance, where just the hard money balance is paid off, rates will be much better.

Best bet is to try local and credit unions, possibly may have some programs for better rates.

Since interest rates are now higher than the mortgage on your current home, you'll want to calculate that monthly difference.SIMPLIFIED Example: current house mortgage interest rate is 3%, balance $250k.