Happy to connect and discuss further if you'd like.Also, here is an article that explains how DSCRs come into play with BRRRRs: https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

I don't know if this is in play for you or not... but it could also help explain the significant jump in taxes if it applies.I would start off with a call the appraiser and discuss the situation.  

@Archie BarrettJust wanted to say that there are MANY reasons to consider a DSCR loan vs a conventional loan, not ONLY if you do not qualify for a conventional loan due to DTI.Possible DSCR Benefits:Can do cash out refi prior to 1 year seasoning of the mortgageCan do cash out refi with no seasoning of ownership (with some lenders)Can do a loan with much less paperwork (this comes more into play every time you add a property)Can close on a DSCR loan directly in your LLCCan have your DSCR loan not report on credit (depending on the lender)DSCR loans can be cheaper than conventional loans for many credit scores and down payments.

You're absolutely right—the location plays a significant role in determining the best style for a fence.

One thing you might want to consider is partnering with microsoft and adding a third party app to their office 365 suite of products as they have an accounting arm and many other applications already in play that you could add on just for property management and it would work on their system to integrate everything.

Taxes won’t come into play until you sell. 

I am not an attorney and I don't play one on television.

If you trust your contractor and can stay on top of the project, you might not need a property manager my understanding is the property manager is playing the contractor's role for some smaller projects, not another layer on top of the contractor. 

I played professional baseball for 4 years and don't have any experience in the real estate world.

Are others playing the long game and hoping for appreciation or is there something I’m missing with the economics of North Jersey?