Prior the SS rule requires that current rents on all units had to equal at a "min," be equal or greater than the total monthly PITIA (prin/interest/tax/insurance/assessments - includes monthly MI too).

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We now know water has been sitting in the house for two days and will likely run the risk of mold… our property manager is going over tomorrow to try and assess the damage.i don’t know the legality of it, but this tenant seems like an awful fit.

Old owner was assessed at low price that went slowly up with cost of living.

Keep the job and invest part time as a hobby and assess your future as you go forward.

But does this mean next year, my house will get assessed to the Heloc apprised value and raise my property taxes?

I agree normally with assessing the time value of money and putting  a dollar amount on your time, but as long as it's not sucking up too much of your time (and it shouldn't for quite a while for most SFR investors if you have good systems), there is something about doing your own books that really lets you keep your finger on the pulse of the business much better than just reading reports at the end of the month or whenever.  

I could probably do that and the EGI would go up by $69k)Repairs & Maintenance: $767/unit (7.5% of EGI)Service Contracts: $125/unit (1.2% of EGI)Management fee: 7% of EGIMake Ready and rollover: $310/unit (smaller units and this is accounting for a 60% renewal rate)Property Taxes: 2.13% of future assessment value Insurance: $753/unit (7.4% of EGI...the building was built in the 60s and rehabbed in 2012) Total OpEx: 82.8%Thoughts?

First, we request Owners to provide a "reserve" of typically $1000, depending on our assessment of the condition of the property at takeover.

Progress is Progress.