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.

Still, you have to do what makes sense for you.  

Quang, I feel your pain and frustration, but also your desire and sense of passion. 

I want to live in the property as my primary residence for a few years, but although it will be my primary residence it's also an investment so to me the numbers must make sense.

Sense Richardson submarket is gentrifying and clearly a better place than in 2008, it gives you more comfort that you will be able to manage through a downturn.If you are looking at a syndication deal, the experienced operators should provide a sensitivity analysis to rent, occupancy and interest rates if they are using a variable rate model.