The 5 year fixed loan could jump up to 7-8% if interest rates spike.

If the home were heated with heating oil or propane , when prices spiked this winter , would you have reduced the rent?

It is always great to have a local appraiser in the group (appraisals are my Achilles heel) For a CPA I recommend @Steven Hamilton II he works with many of the investors here and is in the North burbs I think.

The market will eventually spike again.

NV & AZ are the two destinations most of our well heeled retired cohorts toss out so it would be interesting to see the demographics of NY's to NV & what they buy ?

The U.S. Government’s HAMP Program (Home Affordable Modification Program) is about to expire. Over $1 MM homeowners were able to take advantage of this program in 2009, which provided a sharp drop in the interest r...

Brutal cold winter once spiked at about $120. 

Plus, unless they are extremely well heeled, you'll constantly be chasing money that might not be reliable.

Allow for the fact that property taxes and insurance rarely decline, and can sometimes spike suddenly.The net gain, once taxes on rental income are factored in, should be at least 8%, he says.Landlords also routinely get emergency calls from tenants about urgent repairs, so it is often best to live or work in the area to get to the property quickly, if necessary.

Just to give you an idea on the spike in the market.