That may increase your cost or limit the coverage you can get.The Year that the following were updated (either partially or fully) would be good to know:- Heating systems- Roof- Plumbing- electricalSome companies will not write properties with systems that have not been updated.As long as you are living there, the proper policy for a 1-4 family is a "Homeowners" policy.

Longer Tenure in HomesData from the National Association of Realtors (NAR) shows people are staying in their homes for a decade (see graph below):This increased tenure means homeowners benefit even more from home values growing over time.

I think it will increase down the road, but right now the town is a bit on the past.

., Richmond, and Detroit led rent increases, while Austin and Raleigh saw year-over-year declines due to high supply.

Largely, the appreciation in housing prices is coming from both new migrants and investors coming from the East (GTA) as well as international countries (predominately from the middle east).We are also seeing drastic increases in the rental rates which in turn are pushing investment property prices up as well.

So what kind of property would it take for you to increase your cash flow by $2000 - $3000 a year. 

I'd underwrite the property, with that low interest rate assumable mortgage, to cash flow positively from day 1 as a long-term rental, but be willing and able to use the rent by the room strategy or to rent out part of the property as a Short Term Rental to dramatically increase cash flow during my occupancy. 

When you save up enough capital, slowly increase your portfolio.

With some changes to the management structure and leadership, I believe we can significantly increase the revenue potential while providing a positive impact.

(If you have not already) read enough books on real estate to increase your knowledge base.