Well Erik, I received 3% seller’s credit to buy down on interest rate.

Most markets in Florida are quite lucrative and have higher and consistent occupancy rates year-round because of the weather.

Assuming the rate of $5 per 1,000 gallons that would result in about $35 per year saved in water per shower head.

We have very little vacancy and I’ve been able to continue to increase my rate after each tenant. 

I'd be curious to hear what others have seen for rates on a deal like this.

prices and rates are high and there is lots of competition for deals, both on and off market. 

I see vacancy rates going up and rent going down in the next few years, along with depreciation.  

As for paying it down vs waiting-if you have enough to get a mortgage now and the down payment and the interest rates on the debt are low; then find a rental and buy it.  

Probably worth about 260k)Down payment: $100,000Interest rate: 6.75% (option to raise rate in 3 years but not down)Loan Term: 30 yearsBuyers monthly payments: $1,394.49When I crunch this into Chat GPT is says I am getting a 271.87% ROI.

DC is one of the lowest cap rates in the country.If you have a long time horizon, and have patience, with the areas strong rent growth you can end up with more cash flow here than a high cap rate market.