A quick glance at housing affordability in AustinMedian Household Income App (Forbes): $73,493 ($6,124/mos)Cost of Living (Forbes): 15% above nat'l avgMedian Home Cost (SFR-ABOR Stats): $302,250Assume 5% Down Payment Conventional Loan- 30 year amortization- $15,112.50 down pmt + any closing costs• Percentage of residents with less than $1,000 saved: 56%• https://www.gobankingrates.com/…/…/americans-savings-state/…- $287,137.50 amt financed- 4.375% interest rateHow the payment looks:PI= $1,433 mosIns= $105 mosTaxes= $458.33 mos (Assume $5,500/yr)HOA= $25 mos$2,021.3/mos PITIDTI’sHousing ratio= app 33% @ median income ($2021/$6124)FHA should be at 31% or less with Conv/VA/FHA being around the same although all have exceptions in placeTotal DTIThese hover between high 30%’s to manually underwritten total DTI’s in the 50’s or higher depending on the programs@ 45% Total DTI Ratio and assuming the above PITI pmt that gives a borrower approximately $734 per month in all other creditor debt (cars/cc/personal loans/etc)These numbers are not perfect but are rather a quick illustration of current housing affordability in Austin for Retail Buyers.Summary: Housing is becoming less and less affordable in the COA for end retail buyersAssuming increases in property taxes/insurance/interest rates on the horizon how does this affect us as investors?

A HELOC limit can be changed, interest rate increased or stopped (you can no longer borrow more even though you are below your limit). 

I know there's a process to get the rent increased, I just don't know what it is.

At the very least have current landlord give the proper notice as required for increase and for the vacant unit non renewal.Get the clock started now vs when you close...

@Kenton Coffman, Only some one who REALLY knows STL would be able to drop the names of those areas so confidently, and more important accurately.

I would like to leave the 10% in my pocket rather than hire someone but I can’t be confident that I’ll have the time to grow my business and take care of tenants simultaneously.

Is there a good mortgage calculator out there that I could use to figure out the difference in costs between paying PMI at my current rate, versus dropping PMI, but having to pay an increased interest rate?

I suggest you get an average for the past year, increase the rent by that amount + 10%, and just add it to the rent so you don't have to think about it.Once exception: I put a cap on how much is "included" with the rent.

You’ve got to find a way to bring more value to the marketplace  Agreed, use that savings to increase your W2 income.

Real estate investing and flipping has become increasingly popular because of the return on the investment and the ability to use other people’s money to do so with the intention to increase both parties return.