Or, more precisely, they are jacking up rates, but then giving a "home purchase" discount.

Unfortunately people prefer to share their success and hide when they fail, in part because the world can be cruel when you're down however, it is precisely those threads that we all, not just the person who started the thread, learn how to avoid mistakes.

@Alex Olson Precisely, the first sectors to be impacted are retail and hotel.

I am very detail oriented and like to have precise numbers, I understand it may not be nice and clean cut like I like it, but I am struggling with how I can ballpark the cost/upside of renovations.

You'll want a good agent/inspector to analyze the structure and mechanicals, at which point you can get more precise. 8% vacancy is a safe conservative number (1 month/year).

I agree that tenants don’t care about landlords’ financial obligations but I think that is precisely why you might want to remind them that the rent does not go directly in your pocket but mainly into the bank’s pocket...or as in Texas, the property tax assessors pocket.

But I will try to be even more precise - whether an attorney is required for closing is a locality issue...not a state issue.

I think my concern on the market dip, to be more precise, is during refinance.

Don't try to time the market precisely, you will probably fail if you try to pinpoint a certain low or high.Simply be aware of the time frame in the cycle and start looking for the deals.

Precisely because the mechanism of such personal income aka salary if undefined and subject to interpretation.