I put some numbers below into this Rent or Sell calculator.https://www.narpm.org/members/resources/rent-vs-sell-calculator/ESTIMATES ON ROI (15 year time frame)at 5% Appreciation would profit $100K if SELL nowat 6% Appreciation would have $3,500K more if KEEP and sell after 15 yearsat 7% Appreciation would profit 122K if KEEP and sell after 15 years(Assuming a conservative 6% ROI on money invested from sale.)NOTE: The property appreciated 10% in the last year so I’m thinking 7% over the next 10-15 is reasonable.DETAILSSale Value: $520,000 (Best guess)Paid: $437,000Original Mortgage: $415,000Mortgage Balance: $380,000Interest: 3.375%Monthly mortgage: $2,899Mortgage Difference: $1064Annual Taxes, Insurance, HOA etc**: $20,345**$13,865 (Non Homestead tax) $4,680 (HOA) $1,800 (Landlord Insurance)Monthly Rental Charge $3,500*Appreciation 7%Years to Hold: 15More assumptions used in ROI Estimates Above90% occupancy,15% capital gains charge6% selling feeRate of return on gains if selling now instead 6%Annual maintenance 1%Annual rent increase 4%$3,500 is slightly aggressive. unlikely I could get more.Thanks in advance for any constructive thoughts and comments!!!!

I mean that is absolutely insane. 

Some people might leave because they find it not worth keeping it but they will not find anywhere cheaper.

That means that if you find a property that already has the proper permit, it could continue to be operated legally, if the permit is renewed. 

Quote from @Samuel Choi: @Gustavo Munoz CastroNo not an agent thanks for the info  Then that won't help, Expired listing data is only on the MLS which means it takes money to get access to it.

This seller has many more properties to sell off in time and would like to keep the relationship going but once I tell perspective investors that they cannot access the properties they lose interest. 

Of course nobody knows where rates will be or IF they'll be lower, but something to keep in mind. 

In terms of exit strategy, I intend to keep the property long term. 

You wanna keep going because your confidence  is 100%.

@Spencer HerrickUnfortunately you have to usually leave 20-25% equity in a property you borrow against - so that more or less means there is little you can borrow against your first rental I suspect.