I had the same but it looks like more than one unit was affected so the complexes insurance is covering and they'll never allow a full loss of one unit.

@Joshua nobles I am curious why you want to look at Indy when the Atlanta market is so much bigger & broader? 

Since they are rock star tenants I would let them know if it helps them stay "I can leave rent where it is for the next 2 years, because as you know the School taxes just went up and so did the insurance, in order for me to keep renting it out at the $2800 I am taking a loss, but you have been such great tenants I am willing to do that".

Also open to rolling my current properties into something bigger if possible (10-12 unit).

I love the community that is Bigger Pockets!

@Lisa MaWelcome to Bigger Pockets!

@Ken WalkerWelcome to Bigger Pockets and congrats on passing the exam!

There's right around zero chance you'd get in trouble for that since the IRS has much bigger fish to fry. 

This means you'll probably lose at least $10,000 a year.You don't say how much equity you have in the home but I would seriously consider selling it, even if you have to take a loss.

If a property that is worth 5.3 million today at 6% cap approximately, can be bought at 5% interest rate; if the same property I could get at 4.3 millions in 2 years if the market falls, then interest rate possible at 6-7%, my cash on cash may be better but still not significantly better due to the higher interest rate, plus opportunity costs of sitting on capital for 2 years (1.3 million investment earning 1% bank interest instead of 7% COC if invested, loss of tax break depreciation, total loss may equal 200k loss in profit), plus increase in the rents and some value add could increase the cap from current 6 to 6.7 or so in 2 years.Unless, I find another source that can give me a COC of 7%, sitting on cash for 1.5-2 yrs for market to correct may itself be a loss.