You will likely need to sit on the unit for a long time or reduce initial rent below the market for that unit to rent during the Winter. account for this by either offering a Winter special that will increase to market in the Spring or doing a short lease that ends in the Summer.

But Metro Phoenix is a leader in rent increases.

These will definitely be helpful to consider especially the insurance in my area of SoCal where companies are leaving and prices are increasing. 

Demand is increasing as India/China economy is growing, while number of Teak trees are diminishing.- Even if all of you reading this planted a 1,000 acres; that would not but a dent in the demand, and decreasing availability.- If the world goes into a recession or depression. 

If JC is a must, that's fine you'll do well with appreciation and rent increasing depending on the market with in city.

@Devon ShivesFrom my experience, If you're considering a cash-out refinance, negotiate for a smaller amount to keep the increase in your mortgage payment manageable.

You can refinance sooner than that but you'll need to paper trail all of the improvement costs that lead to the increase in value.

-As far as trying to sell land with no access, sometimes I've sold those to neighbors who want to increase their acreage, or utility companies, cities or other public entities who could use the piece for whatever reason.

It's based on the purchase price and will not include any improvements, reno, or increase in value since the purchase.

As home prices or interest rates increase, fewer people can afford to purchase homes, forcing them to rent.