So, even when the market is challenging, you can still see properties and stay current.Don't take a break when the rates are high.

Cap rates:  Cap rates have been expanding, but sellers think they will tighten. 

If history holds true then generally interest rates go down with Republicans in office and last time housing prices boomed. 

We're going to see insurance rates climb for quite a while.

We've since increased their rent to market rate, and now we're experiencing late payments.Family Member as Tenant:Issue: Our family member is behind on rent for more than 5 months, with a rate below market due to their relationship with us.Behavior: They have made excuses about financial struggles, yet have been seen treating their new girlfriend to fine dinners and outings.Impact: Both tenants consistently pay late and have shown complete disrespect to us, the property owners, despite efforts to ensure their happiness and success.We'd hate to impact our relationship with them, but right now, they're hurting us and our pockets. 

Quote from @Cooper Meurer: Lately, I have been mulling the idea of selling my primary residence and renting for 1-2 years before we leave the Midland area and move to the Texas Hill Country (surrounding Austin area)Reasoning for this:- I currently have around 120k in equity in my residence and I have a 4.75% interest rate. 

A refinance into an LLC avoids this risk but typically requires a commercial loan with higher rates and stricter terms.If asset protection is the main goal, umbrella insurance may suffice without disrupting financing.

What are the rental rates around you??

The advantage with the bank was minimal closing costs, a good interest rate, and a draw system so I could get funding as I completed each rental unit. 

(You’ll pay higher interest because it’s a rental property, and, if you try to do it in a corporation/LLC you’ll pay an even higher interest rate.)