The asking price was 11K over appraisal, which seems to be common in fast rising areas, the comps can never keep up.

Deciding late into a flip to construct another building might not make sense.

I believe the tenants get a better sense of community by interacting and sharing ideas with each other.  

Makes sense.

Since the loan will not be paid off any time soon by solely making monthly payments, does it make any sense at all to continue renting only breaking even, or should I pull the trigger on the sale and take what I can get for it, even if it means taking a big loss from my purchase price in 2010, just to be done with the house?

Hi @Chris PrefontaineMakes a lot of sense.

Most common would be a revaluation (this is where the properties in the area are reassessed), this however does not always mean taxes are going up.....Your value increasing and your taxes increasing are 2 vary different things!

That makes sense.

If I'm buying a property from a realtor how can I determine the numbers make sense all around.

LLCs should be setup where they are legally doing business (which may or may not be where you reside).The comment about setting up a Domestic LLC in Mass. and then registering as a Foreign LLC in RI makes no sense.