If you lived in one unit and rented the rest, that may offset your rent and increase your return possibly, but I don't know if you would want to live in that area as well.  

I increased the weekly rent in 2017 and again in 2018 without any dip in demand.

WOW, thank you Andrew for your reply, it seems like if I purchase a brand new house, I will have to depend on the home price to increase and the chance is hard to predict.

Over time, as the mortgage interest declines, your net taxable income increases. 

I build vacancies into my expences and will rely on that ahead of increasing my risks. 

If anyone is familiar with massachusetts, the areas vary widely- cape cod, new bedford, taunton, south shore, and of course boston itself (out of my league d/t price) are all much different in price/rent ratio, schools, crime, etc... what are the things that matter most to you and influence your decisions when looking into different markets?

@Andrew MerewitzState of LLC FormationIt is normally advised to create the LLC in the state that you will be holding the real estate; Florida in this case.If you created the LLC in New York - you would be required to register the LLC in Florida; increasing your total costs.Please also be advised that it can be costly to form an LLC in New York.Location of CPAThe important aspect of looking for a CPA is that he/she understands the taxation of real estate.Technology(emails, phones, skype) allows you to communicate properly through an accountant eventhough he/she may not be in the same city as you.Florida does not have a state income tax.

GDP growth -> job growth -> population growth -> price increases -> rent increases.

(And extrapolating, try to make sure that to increase its value to full ARV, you only need to spend 70% or less of the extra value you're hoping to increase it by.

Don't concern yourself with the increase over time , you will only set your self up for dissapointment .3.