There is a silver lining in that my projected cash flow will increase since the mortgage expense is a little lower.

This price difference is primarily due to the increased costs of materials and labor since the end of the COVID-19 pandemic.

I have seen multiple houses where they create unsanitary living conditions, pack people in the home like sardines and attract crime.

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I'm also well into the process of turning this duplex into a residential independent senior living facility, which will increase my monthly cashflow by 25k before expenses. 

Appreciation can be very attractive over time, but makes it hard to get in without higher amounts of capital or sweat equity.

Depending on your goals, keeping the wedding venue and continually letting it appreciate while increasing the cash flow of that property if you moved and rented the cottage.

Unless the market goes up or you do some smart renos to increase the value, I'd think twice about that. 

They expect to increase value by raising rents, repositioning the property, general lack of supply pushing continued appreciation in the market, etc. 

If the alternative is not buying anything and you know the market well, go ahead, your returns will increase and rents increase.