Sounds like an ingoing 5% cap rate if you assume zero vacancy.

Dude, sounds like you're crushing it.

No turnover, no replacing the roof, the hot water heater, the broken AC, no vacancy, no tenant hassles, etc… pest control, electrical issues, plumbing issues, septic issues, no renovations from wear and tear (you get the picture).  

Well it sounds like you are going the right direction @Angelo Cortez.Check out @Sarah Kensingers recommendation!

Sounds like the classic living out their deposit scenario in which they will deplete everything and leave you with nothing to cover repairs, clean up and other turnover costs. 

So tech people is replacing older homeowner that want to cash out and they move to sacramento/denver  for example ; and trigger the same migration loop.

→ How many rentals would it take to replace your W2 income?

Well, would you rather pay a plumber $200 for a sewer scope, or pay them $20k+ to replace a bad sewer main that you didn't catch at inspection?

There is only one entry to the upstairs unit and I would like to replace their stairway and porch.

This method allowed me to arrive at a favorable cash-on-cash return, ensuring a sound investment decision.