The navy is charging roughly 1400 for a one bed one bath near the bases. my mortgage would be around $3100 dollars with my VA home loan.

great alternative way to look at it. thats sort of how i was leaning with my logic. like i would rather keep a good tenant for a long time and "lose" some market value but guarntee no vacancy. i figure i could write in a large penalty for cancellation too prior to term ends.

If I factor in additional $5,000 in upgrades it still hits a 30%+ CoC return....It certainly is not a grand slam, but for the extremely low barrier of entry, it seems like a solid base hit. 

Hi @Andrew Rellinger,Based on the information you provided, the "make or break" for this rental is not going to be where or not you change out the carpet.

At least up here, service is VERY important and VERY complicated, so you and/or your attorney need to make sure that you cover all the bases. 

Property tax is a very local issue, and the details of particular problems can vary widely based on the statutes in that state.I'm mostly wondering what issues people have run into , and if they've hired outside help to deal with those issues.

Sure, the alternatives is to buy in a nearby B neighborhood at some point in the future.

You can "split" the properties and determine the value based on a formula of your choosing.

I wouldn't necessarily be uncomfortable with that (I would actually be so proud haha) since coops are community-based complexes so their primarily reason for checking the background and financials is to make sure all their neighbors are in a good standing. 

You may also refinance based on the new appraised value with 90 days seasoning at 75% LTV.