Trademe and Zillow are my friends.Because of where we are in the cycle I would be looking at Hamilton over Rotorua.

I am reluctant to divide the utility bill for that cycle up equally by day, and then charge her for the days she has been present, as the tenant may say that this calculation doesn't reflect her actual usage. 

If you look into economic cycles you will see there is a short term cycle (5-7 years~) and a long time cycle(50 to 100 years~).

Tough tenants cost a lot more than good tenants.When the economy cycles, the tough towns are the last ones to rent.Don't look at advertised rents when the property isn't rented at that amount. 

Big ticket items wear out on about a 15 to 20-year cycle, so depending on where you are in that cycle you could be dropping some big $$$ in the next couple of years. 

They might keep the base change relatively small as nobody wants to start getting a much smaller paycheck, but they will reduce the RSU refresh significantly in the upcoming cycle.  

A lot of these neighborhoods are made up of very rough tenants, and 2% cashflow is great, until you have a tenant you need to evict and then spend thousands of dollars in repairs, only to have the cycle repeat itself over and over again.The common advice given in these situations is that you really need to scale to at least 10 units as quickly as possible, but even more would be better.

(It's currently wired as single stage, but the furnace is short cycling and my HVAC guy thinks it's because it's wired as a single stage.)In short, these units will not work for my specific situation, but if they did I would not hesitate to give these folks my money.

Ground up projects are long in the cycle right now.

I ask this because I want to one day live off of rents that I receive, but I am worried that if I sell all of my properties after each cycle then I would essentially have to start over at the beginning of the next cycle in order to get my passive income back.