Unfortunately wages do not reflect the high cost of living.  

It was marketed as three income-producing units, but due diligence revealed legal discrepancies in rental permits.I revised my offer to about 25% lower than the original, reflecting these findings.

Most hot markets don't allow for this, rents just don't reflect.

That being said, there is money to be made in any market, and typically prices and cashflow reflect population changes.

Also my main question is that when my wife and I look to buy a new house in December will the bank consider the 2 year contract as an offset to my loan on that property even though I have not had it rented out for a long term previously and my taxes will not reflect a long term rental?

BiggerPockets is such a diverse community of all stripes and the guests reflect that.

You then have to decide what you reflect in Pro Forma if you do them.  

There is Federal legislation in the works to have nightly rates reflect the total costs. 

It's fantastic to hear about your successful ventures in property investment, especially amidst such promising economic catalysts driving population and job growth in the area.Your experience with BRRRRs, flips, and building a thriving rental portfolio reflects a keen understanding of the market dynamics. 

This development is less aggressive than market expectations but still marks a change in direction from prior Fed communications.Market Reactions and Wall Street's Expectations:Following the Fed's announcement, the Dow Jones surged past the 37,000 mark, reflecting the market's response to the rate decision.