If you live in an area where rents are capped to the point where landlords can't even collect enough rent to cover their property taxes, why the hell would you ever buy two homes and be a landlord yourself?
Because, as my note reads, my rental properties are in an area where I don’t want to live, but have strong rental growth. A gentrifying area that will be better in few more cycles. Now, it’s still a bit “uncomfortable” for many.
No rental increase in 5 years for me.
7-10% hikes per yearly lease renewal for my tenants, with ZERO turnover. How long this lasts, who knows?
Home Ownership is not for everyone. Circumstances vary widely.