It's the huge taxes/quarterlies from the income.

As far as conventional multifamily lenders are concerned,  they will mainly request a 2 year operating history with year to date info included (if it's past the first quarter) and of course the current rent/lease roll.  

Say, a quarter worth $300,000.

And our latest were going out at around 5 and a quarter. 

The quarter in the university ends on the 10th of June.

The remaining $170K is taxed at your long-term CG rate, likely 15% ($25.5K), so you'd owe $25.5K + $20K = $45.5K in taxes on the boot you kept, while sheltering the remaining $230K in gain from taxation. 

We have a specific AC addendum in our leases and my management team changes the filters every quarter (tenants are suppose to change monthly) and use this as an opportunity to get eyes on the unit. 2. cleaning the coils every couple of years prevents major damage.

Thanks again for the valuable insights.In term of tax, the two properties I got in New Braunfels have tax at 1.76% and 2.24%. 

@Curtis Harvey sure I have no problem sharing where we're at so far we're actually still in the first quarter of our first cycle which would make it around three months and the process of a one-year service from fund & grow.

@Reece Gaynes, as far as I know, ALL banks are obliged to add their interest directly into your Account (usually quarterly?)