I would say if it isn't broke don't fix it.If you are having great success with apartments keep doing that.You have to say with starting something new if I incur losses it won't put me under or hamper my current niche.If it will dramatically impact your plans for what you are doing now I would pass.

Just dramatically dropped their asking price. 4 bedroom/4.5 bath 3300+ sqft.

Private lending terms - rate, points, and pay-off - can vary dramatically from one lender to another so you might work with a dozen different private lenders and have different contracts and requirements every time.

Also if you do have a dramatic increase on the rent your tenants might just leave leaving you with a vacancy.

While most zips do not have that dramatic range, most zips have good and bad areas. 

The area this property is in has grown dramatically and sits near a park and schools.

What I was addressing is that if you wish to LIVE in an area where the Rents move up Dramatically, you are better off owning that Rental with a Fixed Rate Mortgage or you can easily be priced out as you can no longer afford the place you rent.

The larger the property, the greater profit potential without changing the work load dramatically.  

It spreads the risk thinner and can increase your return dramatically.

That might be less of a dramatic increase than pushing full market rents on this person.