If you use up all the return then inflation will eat at your capital and your 600k will be worth a lot less than today.

I agree with Carolina E., at my main job we do not end leases in November or December due to it being harder to get tenants in when it's cold.

I'm working towards my first flip and I'm trying to determine if an addition would eat my profit or be a good investment.

For those of you who know about investing in tax liens, it's usually a "don't put all your eggs into one basket" type of investment.

This keeps things all seperated so you are not putting all your eggs in one basket. 

Make sure you eat breakfast at the garf.

If they damage the property, you pretty much have to eat the cost.

Or should I wait for more appreciation and hope increasing rates don't eat into my profits?

Your point of keeping the last month's rent at it's original amount and eat the difference is interesting, as far as I know other landlords in my areas are requiring the last month's rent gap to be paid although some kept the SD the same. 

But deducible is 5k.. so I had a roof in Dallas it cost me 5k to replace it was a 14k job... if I was a buy and holder and making 200 a month... that eats up 2 years cash flow.. so that's why I am of the mind in hail prone areas one needs to look at this carefully..