Many would not have had the required discipline and sunk even deeper.My wife and I have a very low tolerance for debt and though we have utilized some borrowed funds to grow our portfolio it's very small compared to what some think it should be.

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I want to compare what my realtor has recommended and see if there is any overlapping in order to make a sound decision.  

What are house values doing, how much are they selling for, what are the tax values compared to actual sales value, etc. and how has this information changed over time? 

Your depreciation guess seems low unless the land was very valuable compared to the building. 

I have a large loss as compared to income due to doing allot of remodel and upgrades so maybe this is why? 

@Lindsay Linton, you’re in the big city compared to us.

Hoping you all can help me out without a few suggestions on what to keep an eye on when researching and comparing markets?

It’s not the cheapest market, but it is very affordable compared to the other major MT markets.

If you want to challenge the appraisal you will need a comparable sale of a similar property in your neighborhood.