Ok so I sold a property for 1,050,000 cost basis was 175 exchanged for another property for 860k. I was thinking my capital gain would only be 15k. Accountant says I will owe tax on the whole 190k I got back. Man I ho...

A few questions come to mind based on the info in your post: 1) On the rental, Is the $50k just for the downpayment, or do you have additional funds available in reserve to cover cap x?

I visited Cleveland years back, and to me the east side of the city was older, higher cap rates, and lower price per unit, but harder to manage.

<after 5% cap-ex, vacancy, maintenance, etc... barely making $50/mo> but in it for the long-term equity not income <at this point>.

Which reduces Cap rate.4.

The issue with this is that most deals cap rates right now are below the interest rate so lots of deals have very skinny margins (if investing for cashflow) where a higher rate erases that skinny margin.

They do have an allowance for STRs now, but last I heard they may be at the cap. 

@Ned Carey I have over 6 units and I have bought deals with out any money out of my pocket that cash flow month with cap x.

So I just bought a 8 unit building for 1.3 great deal 9.8 cap rate.

That and the incredibly low cap rate in '22.