Over the last 2 years we have been trying to get a rent increase from section 8 as taxes, insurance, and market values made have increased.

Also realize that when you refi, you can lose your grandfathering on taxes - where the property taxes may be looked at again with a higher value of your property at the date you refi - it just depends on how the county handles those things.Then there is property management.  

Pretty rare from what I see that cities allow or want this....turns single family neighborhood into multi family and most of the zoning people don't like this.Plenty of issues from their point of few of why they don't like it.....parking is one...now no one parking in garage, and potential for more cars...so now 3-4-5 cars in the street.More taxing on the water/sewer/trash/police/fire/city services.I wish you the best of luck with this. 

My advice is do not let that stop you from refinancing and being able to free up 100% of your entitlement.

Hello,  We own our house free and clear valued at about 580k.

Hello,All else being equal (other than the 2022 tax abatement for the gray’s ferry property) what area do people think would appreciate more and offer best rents?

I have a strong credit score and expect I would be able to get approved for this mortgage.Monthly taxes = $155/month ($1,860 annually)Annual insurance = Estimated $166/month (~$2,000 annually)Annual HOA = $196/month ($2,352 annually)Maintenance = Estimated $250/month ($3,000 annually) (0.5% of property value given that this is a newer build.

Our household income is currently $320k pre-tax, but I might be getting a new job soon, which could bump our income to around $380-400k pre-tax.Initially, we planned to buy a property and convert it into a duplex, but with houses in our area starting at $650k, we've started considering a different approach.

It's interesting that many of these VC-backed PMC's, despite having 10k+ properties under management, aren't doing well financially - one of them just merged with another industry-related company also not doing well.Just for fun, here's a partial list of PMC expenses that owners pretend don't exist:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Business income tax preparation and paymentsStaff payroll & payroll taxes Time Tasks: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why something is taking so long, and more & more & more...OBSERVATION: many owners only want to pay a flat fee or 50% of a month of rent as a leasing fee - without realizing the repercussions. 

We run the number of these properties on the calc of BP and they would give us with conservative numbers on the rehab (estimating to put more than needed) and on the rents (market rent but conservative), good returns, like Cash on Cash return (CoC) between 2-6% and Cash Flow between 986 to 12000 per year, so anything from 100 month to 1000 a month, after expenses were taken, so from this cash flows only taxes are missing to be taken, with some properties needing us to put from minimum 40k to 90k down including rehabbing them.