We took a lot of the older ones out over the last few years as tenants would put in TWO 150-200 watt bulbs & cook not only the bulb mounts & insulated thin Al reflecting paper disk, but some had evidence of melted wiring insulation up in the junction box & they wondered why they had light flicker.My favorite image of lighting upgrade...

He assured me at the beginning of the process that everything looked easy and straightforward and even gave me a pre-approval letter right away.

The way I’m looking at it (feel free to correct me if I’m wrong): If I rent:My house: purchased 2 yrs ago (2019) and fully renovated it  Owe 254k, 30yrs at 3.25 rate. now valued at around 320kTaxes used to be 1,700, but for my surprise, or better yet, lack of knowledge, last year they reassessed the house due to the sale (last owner had it a long time) to 3,300 and because they informed me at the end of 2020, now they added to the payment (escrow) the difference of 2020 and obviously 2021.

It seems by me at least that middle class homebuyers need to be paying at least 10-20k over asking price just to compete with the cash offers.

I don’t know the details but if your rent is $1775, there is not enough meat on the bone.

In Cook County, IL, my understanding is you may or may not trigger a property tax reassessment based on a sale and otherwise it’s somewhat unpredictable when an actual human will come to reassess the exterior and interior for overall value.

I will be the first to admit that I haven't really looked at that area specifically down to the ROI level, it's a little too far away from me at this time. 

@Philip Cook Thanks for your feedback!!

So if anyone is doing business in Harrison NJ please reach out to me at your convenience.

Welcome @Jack Langfald and @David Cook too.