The real estate market moved up rapidly in the 70's, doubled and tripled in prices just between 1983 to 1986.

@David Smit,I'm no where near 500, let alone 1500.. lol my rentals are still in the double digits, not triple.   

sorry for triple post, my computer was doing "thing"

@Matt Gilroy,Most of my houses double-triple in value,  but I do have 1 that fits exactly what you're saying.   

It's a triple deckah.:)

sorry to revive this old thread but i just came across your post and wanted to let you know how much i appreciate the specific and thorough overview and insights. i'm in boston, but my dad lives in new port richey. i've been looking for some type of small (2-4 unit) multifamily situation in the st. pete area. i'd like to use it to facilitate more frequent visits to hang out with him and escape from up here periodically while having at least one unit generating year-round rental income. i have no qualms about taking on fixer-uppers and i am in agreement with you about doing the work right the first time, even if that means spending a bit more money and/or time to do so. i recently stumbled across a few properties that seems intriguing, to say the least. was considering flying down to check them out but then i realized it's school vacation week so fares are triple what they are next week. i would love your perspective on them ; it's definitely a unique situation and while i do love a challenge  it's difficult to assess exactly what kind of challenges to expect in this case. your post here was a very helpful little push towards the direction of starting to see this whole thing taking actual shape as an actionable plan, so whether i hear from you eventually or not i will remain appreciative forever :D thanks!!

Landlords run the risk of penalties, double or triple the deposit withheld, particularly if they don't notify the tenants by mail listing things needed fixing within 30 days of moveout.When I rent, I usually ask how I compare to competing units on the market, and the common response is they're not painted.

I have had same situation but in a triple decker in Boston.

I feel like it's a double win for me, or triple even.

I still own it, It's going well, it has more than tripled in value.