They just voted to build two new (expensive) high schools and athletic complexes, so taxes are going to go up substantially.

I realize some heavy civil work tasks need to be done locally but I have also already learned many tasks can utilize resources from around the world and the savings can be substantial.

At the same time give them notice that the current rents are substantially below market and that in the near future the rents will be going up TBD.  

The actual cost should be substantially less.

However, if you are acquiring existing property (not new construction), keep in mind that you also need to invest in substantially improving the property such that you double the basis over a specified amount of time (within 30 months after acquisition).

This would only be feasible if the properties have substantial equity that would allow for a complete payoff of one or more properties. 

Biggest savings opportunity you have is to set up an account at any of the paint companies; you'll get substantial discounts vs consumer pricing.You'll find as many professional painters swear by brand Z as for brand Y.

However if the interest rate is 5% it makes sense to use your cash to buy a rental as you can earn substantially more than 5% on your money.

Properties are labeled as potentially having "substantial forest fire risks and hazards."

If not you will have to drop your price fairly substantially and most likely be looking at a lower class of tenant.