And two, the diamond amenity passes are decreasing as they are tied to the condo unit, so when selling, if not transferred with the property, that unit no longer has the option to simply purchase one.

I am currently tracking salary increase and overall number of jobs increasing or decreasing over the next couple months.

This would be the best financial move since you avoid taxes, decrease your monthly payment even with higher interest rates, but this is probably a step back in lifestyle for you, if you live there.

By not providing appliances, you will dramatically decrease the number of interested applicants.

@Mike Schoeffel I’ve had difficulty in cold areas and had some vacancies until March, even with rent decreases.

Even if the prices do correct further though, I wouldn't be concerned since rental prices have historically increased even during periods when property values decreased so as long as I don't intend on selling the property, the currently appraised value of a property I own doesn't affect me.

However, your 5 and 7 year property are already fully depreciated which will decrease the benefit.

However, for us, while this strategy would increase our net worth by decreasing our tax dollar paid, it reduces our investing fund in such a way that could be detrimental to our investing strategy.Additional Drawbacks include:Less Flexibility - By putting our money into our retirement accounts, aside from the loan that we could take, that money was pretty much locked upHigher Risk - In this scenario we were relying on our rental income to pay our bills.

Depending on what you decide to do, you might look at the number of permits pulled for new construction and whether that number is increasing or decreasing. 

I did decrease my risk by starting with this strategy, but it’s possible that my returns will end up being less as well.