That increase in equity has actually reduced the value of your equity.4 - When you sell the property, that $40k is now converted to cash, and moved forward into another property at, once again, worth 5 times the equity (Now $200k).5 - Also, if you were to buy 2 properties just like the first one, your Cash flow should also double.The value of real estate isn't in the cash flow and equity. 

Utilizing the benefit of someone else's experience greatly reduces your learning curve.Define your goals.

@Jean Robert S. well first of all what kind of auction are you referring too? 

If the seller is able to move out sooner, closing will be moved up, reducing my risk, and more cash to seller Lessons learned?

Granted, this is as much business as real estate, which is why at my advanced age and reduced energy level I’m not interested in doing it myself, but they showed me their financial statements for the operation and I was impressed.   

Clean and Green means I have reduced taxes in holding the property, back taxes would be due if it were to be developed (maybe $20K).

I know there are reduced numbers of buyers when selling larger MFR's, but with strong returns, I have no desire to sell.

If the minor child spends extended time at the non custodial parent that parent may not have to provide payment during that time frame, thus reducing the amount of income for your tenant during the time the child is away.

Ironically rent control reduces housing supply and thus makes housing more expensive.

Thanks to the Cost Segregation Study, the property investors accelerated the depreciation that the first year depreciation was approximately $3.1 million.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.