If rent goes up ONLY by historical average of last 20 years, that means rents are now $2,730-$2,948. 

Which created historical financials that made commercial financing pretty much impossible. 

It's a historic house and I turned it into a multifamily, got the rehabilitation certified by the NPS so I got a bunch of tax credits, and it's been a cash flow cow for the last two years.

Does anyone have any solid insight into the historic gas plant district redevelopment of the Tropicana area?

To add: you have a historically strong and consistent tourism presence, limited land/STR allowable areas, highly liquid property compared to selling a cabin in the woods, all 9 classes of visitors in the STR sector, and appreciation.  

I question if their intent is to pander to constituents to get votes rather than make decisions in their constituents best interests.Here is some predictions: 1) rent for existing tenants will go up max allowed increase 2) rents for turned over units will go up far higher than the historical average.  

The biggest cost challenges with them is keeping them "historical".

Newer ones (2008+) are suffering from seasonality now but will pick it up in Q3-Q4: if you look at historical data, Miami Dade county has always had seasonality low volumes during summer time, due to hurricane season, holidays and less tourists visiting. 

Historically, Puerto Rico focused on pharmaceuticals and never got quite as dependent on tourism as places like Hawaii and some other parts of the Caribbean.  

In addition to being a long-term real estate investor I have been a commercial/res appraiser, historic property renovator/contractor, property mgr and more so I don’t mind properties with issues as long as they are fixable and priced accordingly, and my investments are all about the numbers (NOI/Equity).