This was in a middle class neighborhood and I get why that is less risk however with apartments increasingly including laundry, I would imagine demand lessening in that location. 

You need an income that meets three requirements:Rents increase faster than inflation to offset constantly rising prices.It must be reliable; it continues even during economic downturns.It must last throughout your lifetime.These are all long-term requirements, so the current interest rates are not the major issue.

But with a co-living setup, renting out each bedroom separately at $850 per room could generate $4,250+ per month—a 70% increase in rental income. 

Right now, my focus is on leveraging my degree and skills to land a higher-paying job, increase my annual income, and ultimately grow my net worth.Real estate has always been something I’ve been interested in, and my long-term goal is to start investing in both real estate and retirement to build financial security.

Sick of confrontational nonsense.

It does beat the expected inflation rate of 2% set by the Fed.Rents will remain about the sameWhat’s interesting is they also expect:A 11.7% increase in existing home inventory followed by Single-family new home starts growing at an impressive 13.8%. 

Option 2: Make minor upgrades to the rental property to increase the rent (the current lease is almost ending) and hold onto it.

We plan to keep them on a month to month lease but after a few months, have them sign a year lease and increase rent, however, we need help finding a GOOD app/website to get lease agreements/documents from or get a template so we can fill/add certain things we want.

The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

This is where you can significantly increase the value of the property by making improvements that attract quality tenants and justify a higher rental price.