Look at the economics / population rates & other driving factors pushing the market into the future. 

So if lowering the rent 8% would have filled it you would have been ahead.

Meanwhile that guidance pushes many investors towards purchasing in areas where they do nothing but accumulate terrible assets solely because they are inexpensive.

This isn't to discourage you but to prepare you for the journey ahead.

If they do, then you can likely find another tenant for that amount fairly easily, as I would assume the entire town's taxes are up- so if someone really wanted to be in town, that price is the new normal.If your taxes increased that substantially in a C neighborhood, your tenants would way more likely give push back for that type of increase- even though you're not being greedy, you're just imposing the same raise you were given.Often the buyer who had the "well, the numbers are better" mentality is only looking at year 1. 

My gut tells me they are pushing the revenue and basing the homes value on that.

@Elan Adler do it as a token of appreciation and a pay ahead for other folks that search  BP agents and realize this.The decision to pursue this property isn't terrible, but I think it's for different reasons.

Some of our borrowers are focusing on 4 bed 2 bath section 8 to push those numbers even higher.I pay close attention to 4-bedroom homes in Memphis for S-8 clients 

I remember going to a mortgage closing on a personal home decades ago and the closing agent pushed the 3 inch stack of papers over for signing and said:"This all says...

It was a pain, but in the end, I came out ahead as there are rent caps in the area and got good tenants.