If you asked every note investor in their first year how much the made, it would be the equivalent to talking to a fisherman on how big that tuna was he caught.

It's Arduino based and costs 20x less than a gas or diesel equivalent and has no environmental issues.

The Chicago equivalent is a brick two flat (stacked apartments not side by side) and $700k could buy you an unrenovated unit in all but the nicest parts of the city where it's beyond gentrified.

i would sell it. even if its cashflowing say 500 a month, you have capex and tenant headaches. you will pull out almost 10 yrs of buy and hold equivalent profits by selling. i would do this in a heartbeat.now appraisal at that price doesnt mean you will find a buyer. if you are  to say sell below 70k, i would think about retaining it.

I'm thinking this deposit would be equivalent to the current rent rate.  

Personal view on it is that if you are renovating/adding value, there is a high likelihood of refinancing down the line at an equivalent or better interest rate.

6.43% appreciation has been the national average over the past 40 years.I'm just trying to put everything in equivalent terms by setting everything at a 1 year return on your cash and then adjusting for inflation.As far as your example goes Rich, I did some more calculations to figure everything out.

Even if you pick a property that earns and equivalent 10% return you still pay taxes and it is not compounding.Until you max out your 401k each year any other investment won’t come close to the simple math and risk/reward. 401k only require contributions and patience.

Since incomes have only risen about 10% in that time, what is to stop 20 developers building equivalent buildings as competition?  

Check your policy.You can submit the plans and budget to the bank while the permit is going through the city or your legislative equivalent.