Regardless, it just didn't seem as nice as it was in the 80's.Having said this, I would guess, especially with the way real estate markets are rising, it can only get better going forward.

The cream does rise to the top.

Such growth was primarily due to rising inflation.

Either way, in a rising rate environment, it would be smart to get the ball rolling sooner than later.

I'm the property manager of this unit so the owner for some reason won't file a claim since she believes her rates will rise. 

Given the extraordinary rise in interest rates in the short term, interest rates are only expected to rise.

You should also look into refinancing out of the FHA loan into a conforming loan after 6 months of ownership.FHA loans have MIP, which is pretty expensive and effectively increases your interest rate.If you can buy wisely and ride the wave of appreciation, you could have 10% equity in the property fairly quickly and save some money with a lower effective interest rate, even though you will have PMI instead of MIP.If you can get to 20% equity, you can get rid of MIP/PMI altogether.Of course, rising interest rates will affect any refinance strategy.Also, if you refinance, already being told by your company in writing you are being transferred, then you may be exposing yourself to potential federal mortgage fraud issues, by knowingly violating the 12-month owner-occupancy requirement of the mortgage.

However, are rising rates a pause for concern given the available housing inventory and inflationary environment? 

All signs point to middle TN continuing to appreciate and rents continuing to rise, so with the right property management company I would imagine you could at least break-even renting it out. 

@Jim Ziccarelli turn time using a great DSCR lender 30 days. contingent on the appraisal and title work. also how fast you get us the requested documents. rates are on the rise and we have seen increases weekly. things that impact rate.