There may have been better choices for a rental at the time.  

Are y'all seeing this in your rentals? 

It is the reasonable rental value without the new improvements, because the tax sale investor did nothing to add value regarding the improvements. 

I also own some long-term rentals and a short-term rental.

It’s paid off, I would “like” to leave it that way & maximize the cash flow while paying down the heloc between the rental & other income.  

And IMHO, the prices are dropping big time (on avg. 10K/month...houses that were above 300K a year ago are not selling at 250K now) and the available rentals saturation is worse than I seen during summer season (with rents dropping from 1$-1.08/sqft to 0.8$/sqft and very little contacts and applications...just go in Zillow and look how many rentals are on the market now in Kyle, New Braunfels or Converse). 

The benefit is that you can take control of the rental while still allowing them to retrieve their belongings.

Hello @Daniel Summer,The Memphis market has a solid MHA/Sec 8 rental.

In that time if you are netting $1,500/month - that is $54,000 worth of rental income you would make over the next 3 years.  

Glad you took the leap and got your first rental.