Can they prove how long it takes to rent a vacant property?

It is currently rented, and we are bullish on the building and plan to keep the unit in our portfolio.

I'd sell because you are reaching the time when you lose the cap gains exemption and that $24K would take over 2 years of renting to get back.I had a condo that I owned for a long time and I sold it despite it being paid off and having long term tenants. 

Purchase price: $68,000 Cash invested: $70,000 Sale price: $195,000 I purchased a long-term rental property from the MLS that had multiple contractor issues and significant delays.

Strong agreements that protect your position in the deal, and recording a Memorandum of Option with the county will go a long way to protecting your interest. 

I assume you know at this point but in general, the goal is the screen for a very good tenant and keep them there as long as possible.

@Olivia Blake what you are running into is a tenant how has been a long term tenant.

This can provide additional capital for future investments and get the next one.Or evaluating other loan options:Depending on your long-term plans, you could explore conventional loans or portfolio loans that might offer more favorable rates or terms with the new appraisal value factored in.Your decision depends on your broader strategy.

So over the long term, I think it certainly could affect home and commercial prices.

It seems like there's a lot of opportunity right now in that SEPA and South Jersey area (I'm on Long Island but have worked with folks who operate down there), and you're setting yourself up with smart partners, so you're ahead of the pack here already.I do have a good relationship with a strong commercial brokerage firm in that area, let me know if that would be a useful connection for you.