This is going to be a little more pragmatic than what I usually offer around here, but I'd suggest walking into the communal bathroom of any college dorm for about five minutes early on in your decision making cycle.

Within the next year, we'll be in the $5,000/mo gross range as we cycle through tenants/leases.

Real estate cycles usually come in 10 year increments.  

Since lease turnover controls your timing, it usually take at least two rent cycles to make a significant impact.  

I call that, "The Success Cycle".

You might be able to increase the rents, cycle out the existing tenents and replace with higher paying occupants.

If you have been in RE and are still in it a decade later and making a profit then you have won.if you get into the business and flame out in 24 months then obviously it did not work.. what makes the difference.The differences are where you are in the RE cycle.. some markets were or are much better for letting the newbie get into the game in the first place..

Credit gets pulled way back, which is part of the reason prices drop in a vicious cycle.

If they work the same as mine, you only pay interest on the balance outstanding at the end of each monthly cycle, right?

I mention this because this area has never been through the boom and bust cycle, there are only a few hundred people living there, it is prime riverfront property, in comfortable commute distance to the Arsenal, and they send their kids to the good local school system, Madison, through an agreement between the municipalities.