Cashflow Investors' Strategy During Peak Years?

[Mehran K.]

Hey Guys & Gals, especially the folks that have been around for a few cycles of the RE market!

In the big scheme of things, I'm fairly new to investing. I've only been around post-crash and am blessed with a market filled with great cash flow opportunities in the residential (1-4 units) arena. As prices and rates start creeping upward, I can't help but wonder how this will effect my strategy down the road.

During the times when prices/rates are higher (which was the case before[boom], and inevitably will be again) and rents don't follow, what is a buy & hold cash flow investor to do?

Do people generally stop adding to their portfolio during these times?
Do they just keep the same criteria and have to scour/mine for deals harder?
Do they change their investment strategies all together?

I'm sure there are tons of views on this and I'd love to hear them!
I'd really appreciate the chance to learn from the experience and insight of those who came before me so I can better plan for my future. Please share your thoughts!

Thanks in advance :)