well, propery values and rents usually rise and fall together in the cycle...usually....but if you buy and hold your rents may go down but you only take a loss on the peoperty if you sell.  

Insurance may go up a little also, but probably not as significantly as taxes.For me I think I have a bit more equity in my house as well and either way would work, but for you i'd consider if you would need to do the additional work regardless (assuming your not selling as is), and if you can make the numbers work assuming that some of the expenses will rise after you move out. based on the numbers you have there, you may be able to make a very small profit on that house if you don't need to finance the repairs, or can keep the costs down. though there is also the chance that if you didn't plan this out well or if the work is too extensive it could like Tabitha said quickly become a money pit. 

I don't know about Iowa assessments but in Maryland the tax assessment will rise each cycle based on the increased sale price.        

Medford is a VERY good investment town and property values continue to rise.

Dustin Beam They are less scary now because most lender have annual caps on the % they can rise, and before 2008 this was out of control.  

The goal for me, is not to make this a primary source of income, but an additional source of income and also something that can be passed down to future generations, perhaps owning a high rise or two in the future.

Onerous rules and regulations cause capital to flee rental housing, limiting availability and causing rents to rise.

It may be a bit isolated if you're used to the city life, but the area is growing and property prices will only rise.

You can expect taxes to keep rising here - the middle school just passed a $50M improvement levy that has yet to hit the books.

I think as we enter a rising interest rate environment it may start to happen with more frequency.