That will show what proposed tax increase you will see.

@Jemini LeckieRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

He prides himself on having "realistic" standards and claims to value inner qualities over appearance.

With the COVID-era surge in home prices, rapid increases in mortgage rates, and rents not keeping pace, it really has gotten harder to make these deals work.

Materials have increased more than 20% in the last 5-8 years.

You can also expect increasing HOA fees, and there may be some problems renting a property inside a difficult.You don't have any experience, prices are at an all-time high, and rates are also high. 

While less than 10% of the mortgage industry offers 40-year mortgages, here's something to factor in: they often come in with a rate increase of 20-35 bps.Assume 35 bps.$300k mortgage at 7.25% (30-year): $2,046$300k mortgage at 7.6% (40-year): $1,996Technically, it lowers the monthly, but not by much once factoring in the rate adjustment.

But once I got the bills, I increased the rent with the tenant's approval and signed an addendum to the lease stating the rent increase would be X and the owner would take over utilities.

This would increase the benefit to where the fee would not be so outrageous that it would hinder the investment.

Leverage will be reduced from the max available, reserve requirements increased and, typically, you would be required to use a professional property manager.