Hey Josiah, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

I think I may try lowering it to something like that after my first wave of turnovers. 

I think it is a lower risk building this in the center of a city than on 4 acres with no utilities in the center of a rural area without comps or limited comps and only a vacation rental market. my buyer pool is much larger being in a big city and urban and buying infill lots like in columbus ohio. this is just our strategy, I'm finalizing the renderings and everything next week an in contract on our first build for builds in Texas but this is what I would do.

If you are secure in your personal finance you may choose to go for the lower cash flow / higher equity gain scenario. 

Ultimately this is what theyve offeredPurchase price $250kDown Payment $5kMonthly payment $100010 Year balloon payment.They will cover all property expenses including taxes.They want tenants gone within 30 days.I still owe $146k on the property.

Does your projected cash flow include debt service and other expenses after the refinance? 

This can build equity and potentially increase rental income through property appreciation.Another option is to sell one or more properties to free up equity and reduce mortgage debt, which can be useful for reinvesting or diversifying investments.refinancing one or more properties to lower monthly mortgage payments and increase cash flow could also be beneficial, especially if interest rates have decreased.the best course of action depends on the clients financial goals and risk tolerance

If expenses  increase, guess what?

Tax benefits (depreciation and expenses) - this gives you more money near term by reducing taxes.Of the 4 I listed, 2 are money now, 2 are money later.

I recently did a study abroad in Japan last year and am sure that you can make a killing in the Japanese market due to the decreased yen value and the lower apartment building costs and real estate as a whole compared to the States.