This led to a sell off of properties and since the sell off came in scale it caused property values to rapidly decrease.

@Chris Harjes: I wouldn't conclude so soon that most of the decrease in demand is due to an increase in competition.

Thanks in advance for all input.Maybe think about replacing that wooden staircase with a metal one (look online for vendors).Then you will not have to revisit this issue in the future.Also ask your insurer if there is an increase or decrease in premiums for the metal one.The ones with concrete treads are superior to the wooden treads because they don't rot and let a renter or guest fall through.The ones with the mesh metal slip resistant treads can look industrial, but might be a viable choice.And your manager is probably marking up labor for his/her General Contracting the job..

I had an increase in welding income but more than a 20% decrease in real estate income.

If this is your first deal I wouldn't jump into a home from 1880 that needs renovations,  your probability for going over budget increases as the age of the property decreases.  

They'll also be able to guide you on the risk and benefits of getting mortgages in one of your names vs both as well as what you can do to get a better rate (increase credit score & history, decrease debt, increase income).

I'm working on increasing rent but it will not be significant as I already did after the purchase, thinking about refinancing but interest rates are high now and I had the loan with 4.25%, contacted a specialized company to see if the property tax can be decreased, working with insurance company to provide 5% discount and tried the RUBS option but it's not common in STL but would to get anyone input/ advise on this situation. 

I can obviously start with a longer minimum and decrease it if need be later on, or adjust minimums to fill in gap periods.  

As you pay off each one, it doesn't do anything to decrease your mortgage payments right up until its completely paid off.

It’s not that market rent can’t decrease, it’s just unlikely.