I will have to admit that i have thought back many times to before i was married and had 3 kids that if i could have done it again that would be what i would have done.Condos could be good could be bad... the thing you want to watch out for is the association and how often the increase the dues... they tend to cut into your profits.

In any case, these new technologies are increasingly becoming expected by home buyers and businesses.

You'd have to get a $35/month rent increase to make an extra $20 the whole next year of the lease.

Agree with Frank PatinoI would consider using my investments to pay off bad debt- Plus if the property is building equity from paying down the loan and increasing in value by the time you do retire the account you have now should be a fat little piggy bank.

It's more of partnership than your standard lender-investor relationship. 

You can always refi if it appreciates or you recapture the principle to the standard 75% or 80% LTV. 

Second, how do you avoid surprise tax increases, or is that just a part of the risks?

I have been using a Rich Dad Cash on cash return on investment excel sheet - but it doesn't allow for extended yearly projections with renovations and increases in rent. 

@Ethan Epps- yes, anytime we can divide the land and development cost amongst more for-sale units, we can increase profits.  

This amount starts small but increases a little every month.