I saw some of your previous posts, so I'm glad you're getting closer to your first.I think your rent sounds pretty cheap between you and your fiance now, but I also don't know the COL in your area.Maybe if you found something comparable in price or slightly less, then it could still math out, because you'll be benefiting from appreciation, loan amortization, and potentially a housing expense decrease over the long term even if slightly. 

Agreeing with everyone else - I always look to increase occupancy, not decrease. 

A few years down the line, we might see cap rates decrease to around 5%, significantly enhancing potential returns.

In the last few years, income inequality has actually decreased.

Two key calculations to prove this out:  ROI = Net Profit / Total Investment * 100 ROE (return on equity) = net income/equityBorrowing will decrease the cash you put up & increase your return relative to the cash out.  

My property manager advised due to decreased university enrollment these homes are slow to rent over the last few years.  

With listing the price higher, instead of decreasing the price, we offer the buyer either/or a buy down of the rate or money towards closing costs. 

When it says they generally pay 30% of their income, is that just more of an average, meaning listing it for lower would significantly decrease days on market?

This indicates a strong market demand and a promising opportunity for investors.Days on the Market (DOM)Reduced Sale Time: The average sale duration has decreased from 86 days to 67 days year-over-year.

You acquire more capital in your position by (1) decreasing expenses, (if possible) and/or (2) increasing income.