I manage a commercial building in a historic downtown area the bottom level is rented out to a store and there are two apartments upstairs I rent out.

You will also have the option to refinance in the future for a lower rate.If the area you are buying in has historically high appreciation rates that’s a plus.

In particular, income-generating real property and multifamily have historically — and as I’ve witnessed from experience as an investor and developer — shown a greater ability to grow net income during expansionary periods than securities and other assets.Owning real estate has a number of benefits during periods of high inflation.

The property is in an excellent location -- heart of historic neighborhood, large lot, out of flood plain, city water, sewer, gas, electric. 

Another thing to consider is the volatility of the stock market in an inflationary environment, vs real estate returns which have historically outpaced inflation. 

@Greg ScottIf comparing to stocks to real estate, I want both so I am not putting my eggs in one basketIf you look at historical returns I believe stocks slightly outpace real estate but of course if you are a savvy investor you probably can do better with real estate if you are more active in it compared to stocks.

However, San Jose historically is a high appreciation market (affecting both market value and the associated rents). 

HELOCs have historically been difficult to get on rental properties, and the only lender I knew of who did write HELOCs on rentals is no longer doing that, as of April. 

I had no knowledge of this at time of purchase and was not able to get historical proof of rent paid when I asked for it at time of purchase.

What have the historic vacancy and maintenance expenses been?