Don't forget to ask when the last time everyone's rent was increased - with section 8 you can only do that once/year. 

That will increase your material costs for the job and is the contractor paying for the material in their bid or are you paying for it and paying them a labor cost.

This puts the current market rents of $885–$925 per unit well within the affordable range, with room for modest increases post-renovation.I’ve also reviewed competing properties in the area; apartments seem to be listed between 975 -1000, and houses are listed between 1300-1900.

If land values are increasing significantly, you can back-end load the seller financing for a percentage of the profit when you sell.To add to prior comment, how many septic tanks do you have?

Added equity is gained from appreciation, which is based on the property value, which starts out the same, and increases at the same rate, whether you ny all cash or no cash. 

Do you need to increase rents in the next year to cover your costs?

And while short-term rentals are the big draw here, there’s also growing demand for mid-term rentals from snowbirds and traveling professionals, as well as long-term housing for the increasing number of permanent residents.Yes, higher interest rates are a factor, but the strong rental demand in the Panhandle often helps offset those costs.

This is usually done to increase your rental income but it comes with a price as you are finding out.  

I am new to Bigger Pockets and looking for opportunities to engage, discuss, and work with others in the field of REI.

Last time I checked Dubai has an increasing oversupply of properties due to overbuilding.