Historically speaking rates would be likely to come down after that so you can refi later.

I also went to college there so I know a little bit of certain areas, I love the historic home near campus.

He made a suggestion because of rising interest rates and home values being historically high. a snap shot is as follows: I have 100% occupancy.

This does not mean your plan will not work out as historically it will work out great. 

The upside of this property is the location which is in a historically significant area with an established downtown area, private college, summer horse racing and a hospital a few blocks away so there are always people from all sorts of professions looking to live there making it a very stable rental market. 

Ok folks, let's do something TOTALLY Goofy and just bat-guano-crazy and look at HISTORICAL DATA and compare it on what happened. 

The slab porch with wooden columns and stone linteled windows are consistent with other George Ash designs (“Georgia Historical Society”).

We are still in a historically low environment but I understand the concern. 

Large square footage (oftentimes a historic home).

Someone could have a 7 cap center with highly inflated average historical rents and now really buying a 5 cap with sub par tenants.