I would also recommend increasing your liability coverage to at least $2M.

This will increase the return above what can be obtained on a passive investment.The flipside of having the power to control everything is that it can be alot of work (and a full-time job if a person is putting in sweat equity).

Because here, the proposal would increase property taxes about 5x.  

If private companies continue to provide the insurance, I suspect we will see further increased premium costs which will need to be reflected in the rents tenants pay (all tenants: LTR, MTR, STR).  

However, a full or partial gift means you inherit their $33K cost basis, potentially increasing your capital gains taxes when you sell in the future.

If your rental income increases faster than inflation, you will have the additional dollars you need to pay inflated prices.

Like most markets, there is a growing trend in the area due to affordability and increasing more things to do. 

I can get 5 times as many deals without increasing my budget.

How do SFHs fare in competition with these rentals as supply increases?

You may also want to check the Columbus OH market - great macroeconomics with lots of job and population growth along with major companies developing here that drive strong rental demand.