@Edward Wodziak if you sign into your owners portal account all you have to do is click on the Finance tab and then select "Request a Rent Increase" and complete.I believe it is beneficial to request rent increases annually as section 8 has strict inspections that often are costly for landlord to repair to pass their inspections.Most times when I receive a rent increase the tenants portion actually stays the same or decreases due to annual increase in rents by HUD.

I can handle it and have made money, but I have buy and holds all over the state of MD in other areas with a substantially decreased degree of annoying headaches.

There is also the potential to fit another unit, which would actually decrease my construction costs (less total sq feet), but increase sales costs.

As you said, your costs increase every year so if you don't raise your rents accordingly your profits would decrease over time.

If you can not renew the ground lease, or you can't renew it at a reasonable rate, the value of the condo will significantly decrease, down to zero , as the ground lease nears its end of term.

It would be inadequate to do the analysis.HOWEVER, you can absolutely use an IRR calculation and compare the two strategies over the same time frames.The point is that if you do the IRR for targeted properties with all kinds of variables, you will be able to take into account any kind of strategy, regardless if it is high cash flow and zero appreciation, medium cash flow and medium appreciation, or zero cash flow and high appreciation.My posts are not about which is better.

I estimate vacancy on the properties I am interested in to be at 50% - 67%, with the potential to value-add and decrease that number.Would appreciate input from anyone currently doing STRs in the area.

If you did leverage to max and had funds aVAILABLE that would decrease risk during vacancy.

. - Decrease in investment money from international investors. 

It could be as little as $500 - 1800, but every expense decreases your ROI.