All Forum Posts by: Eric Fernwood

Hello @Stephen Morales,

Accurate rent estimation is crucial for real estate investing, as it determines a property's viability. To ensure accuracy, we evaluate each property's rent three to four times, as detailed below.

First Estimate

We developed a data mining engine that evaluates 5,000 to 20,000 properties each morning, completing analysis of 15,000 properties in under five minutes. A significant challenge is the poor quality of MLS data. For example, the MLS once showed 62 bathrooms for a 1,600 sq ft property.

The data mining engine performs a two-step evaluation. First, it eliminates properties that don't match our target tenant segment's housing requirements. We believe tenants are the ones who pay the rent—the property is simply a vessel to attract the right tenant. To generate reliable rental income, you need tenants who stay many years, pay the rent on schedule, and maintain the property well. We vet each property against about 40 tenant segment behavioral characteristics. If a property fails any test, it is eliminated from further consideration.

Our track record demonstrates this approach works: our average tenant stays over five years, we maintain less than 2% vacancy rate, and we've had only 7 evictions in over 17 years across more than 1,000 tenants. Even during the 2008 financial crash, our clients experienced zero decrease in rent and zero vacancies.

Software cannot accurately estimate rent because rental prices are driven by human behavior. My research shows that people often make decisions that data models fail to predict. Additionally, there are fundamental flaws in how software estimates rental rates.

• Property condition is critical yet difficult to verify. MLS photos are often outdated and may not reflect the current state. For example, when I checked a fire-damaged property that was completely unrentable, the platforms estimated monthly rents between $1,900 and $2,200. This demonstrates how no software, including mine, can accurately evaluate a property's condition.

• Another misconception is that rental rates of nearby similar properties reliably predict a property's rental value. In reality, prospective tenants don't restrict their search to a single neighborhood. Instead, they primarily choose locations based on commute time to work. They'll consider any property that meets their needs, regardless of its location in the city. This means your true competition isn't just the property down the street—it could be a house across town.

Second Estimate

Properties that meet all criteria and match a client's specific financial requirements undergo a thorough manual evaluation. This crucial step addresses what software cannot evaluate—poor floor plans, nearby nuisances, lessons from past experiences, and the property conditions from MLS photos. Only an experienced professional can make these assessments. Here's an example: I visited the house marked on the map below several years ago. The traffic noise from I-15 was so overwhelming that my client and I had to shout to hear each other. Due to this severe noise issue, the property is essentially unrentable. Only an experienced person can recognize such property-specific challenges.

Third Estimate

For properties that pass the manual evaluation, we perform an onsite evaluation. Our assessment begins while we're still in the car. For example, if we hear a barking dog next door, we stop the evaluation immediately—our target demographic won't rent a property with that issue. If we believe the subdivision and the exterior will appeal to our target segment, we enter the property.

Properties are eliminated due to factors like poor flow, insufficient kitchen counter or cabinet space, odors, and other issues. Our evaluation is based on how our target demographic will assess the property. Our personal preferences don't factor into the decision.

For promising properties, we capture a video walkthrough and forward it to the property manager. To ensure objectivity, we provide only the MLS number and our video—nothing else. This forces the property manager to evaluate based purely on market conditions, property condition, and her expertise. Her assessment includes projected rent ranges, estimated leasing timeframes, and recommended renovations, all based on current market competition.

Fourth Estimate

The fourth estimate takes place during due diligence, after all inspections are complete and vendor quotes are received. The final rental rate largely depends on the scope of renovation and other key factors. All these elements must be carefully considered to accurately estimate both the rental rate and time to lease.

Summary

• Understanding tenant segment behavior: Through years of studying our target demographic's housing preferences, we've identified key factors that make properties undesirable to them. For example, yards must be larger than 3,000 square feet. These criteria are implemented through rule-based software.
• Undesirable streets and floor plans: This is a large dataset we accumulated and use as another elimination filter.
• Property evaluation: This involves applying weighted scores to each property's characteristics.
• Once we have a set of properties that match our target demographic, we continue to evaluate the property through highly trained professionals.

Stephen, after exploring various options over the years, including AI, I've concluded that nothing matches the accuracy of a skilled team. Software can provide a starting point but accuracy requires human expertise.

Hello @Ivaylo Chaprazov,

I've lived in Las Vegas for nearly 20 years, having moved here from NYC. It took me about a year to adjust to life in the Mojave Desert, but Las Vegas is the best place I've ever lived—and I've lived in various cities and countries. I plan to stay here permanently.

Your comment on the strip being quiet, below are some quotes from a February 27, 2025 Review Journal article.

• Nevada casinos had their second-best win performance in history in January, the Nevada Gaming Control Board reported Thursday.
• And that came a month after recording their best month ever.

The actual results do not match what you heard.

On crime, here is an episode of “The Ben (Horowitz) and Marc (Andreessen) Show” on Las Vegas becoming the SAFEST City in America. Here is an article (Yahoo News): “Homicides, robberies, burglaries, and car thefts dropped in 2024 compared to the year before.”

If your goal is financial independence, Las Vegas is an outstanding location for investing due to its rapidly increasing population and little room for expansion. See the 2022 annotated map below.

Today, I estimate only about 16,000 acres of raw land remain, and this cannot be increased due to natural boundaries (mountains) and various tribal, DOD, federal, and state parks. The result is that the remaining land in desirable areas sells for $1M/acre.

Our target tenant segment can afford rental properties priced between $350,000 and $475,000. However, due to high land costs, new single-family homes in desirable areas start at $550,000 and come with extremely small lots.

With Las Vegas adding 40,000 to 50,000 residents annually, primarily families renting single-family homes, demand keeps rising, but inventory is (almost) fixed. Since 2013, prices and rents have increased by 10%/Yr and 8%/Yr, respectively (for our segment).

If you want to know more about investing in Las Vegas, DM me.

Other advantages of Las Vegas:

• No state income tax.
• Pro-business environment. For example, an eviction typically takes between 17 and 35 days.
• Reasonable cost of living
• Rapid job growth. With over $28B under construction or in the late planning stages, jobs and a reasonable cost of living will continue to draw people to Las Vegas, increasing demand (and prices and rents) for the fixed housing inventory.
• Strong law enforcement is significant to me, having lived in cities like Oakland, NYC, and similar places.
• Always something to do. If you are bored in Las Vegas, it’s your fault.

Things that I had to adapt to:

• Mojave Desert: Moving here required adjusting my outdoor routines. Instead of visiting parks at midday like I used to, I had to work around the weather—summers are too hot and winters too cold (for me) for afternoon activities. Fortunately, all parks are well-lit, making summer evenings perfect for visits. With few insects around, nighttime activities are great. In winter, like in NYC, it's too cold to spend much time outside. The upside is that we get very little rain.
• Small yards: Land is very expensive in Las Vegas, so yards tend to be small. I was accustomed to spending time in my yard, gardening, and such. In Las Vegas, yards are less important because it's too hot or cold to enjoy them. Plus, there is little or no grass to mow—which makes sense since grass doesn't belong in a desert.

Summary

Like every place, Las Vegas has its pros and cons. However, I've found it an outstanding place to live and invest. With the continuous development, I believe the city will only improve over time.

Hello @Melissa Stanley,

Over the past 16+ years, I’ve worked with over 180 investors. A common question I get is about pooling resources to buy properties. While this can work, the biggest pitfall is assumptions.

NOTE: I’m not an attorney or business advisor. The following is based on my experiences and should be reviewed by an attorney.

Here's an example: Two friends teamed up to invest in a property. A few months in, the refrigerator broke. One wanted a used replacement to save money, while the other insisted on a new one with a warranty. This minor disagreement strained their friendship—and I've seen worse.

How do you avoid this? Create a detailed agreement upfront. A lawyer can ensure it's clear, legal, and comprehensive, but it's best to draft the basics together first. Below are key items I've seen in teaming agreements:

1. Ownership Interest: Define each party's ownership percentage based on contributions like the down payment and ongoing costs.
2. Financing Details: Clarify who pays for what—mortgage, closing costs, renovations, etc.
3. Expenses: Outline how regular costs (taxes, insurance, upkeep) will be split.
4. Management and Maintenance: Decide who handles repairs and improvements, including decision-making processes, funding, and responsibilities for performing or managing the work.
5. Single Decision Point: Avoid deadlocks by assigning one person as the final decision maker.
6. Dispute Resolution: Agree on a method (e.g., mediation or arbitration) to resolve conflicts.
7. Life Changes: Plan for marriage, divorce, incapacity, or death.
8. Exit Strategy: Define how a party can sell their share, including buyout terms and a method for determining the sale price.
9. Rental and Use: Define the rules for renting out the property. Also, agree on how the property will be used, who can live there, and under what conditions.
10. Financial Shortfalls: Address what happens if someone can’t meet their obligations.
11. Legal/Professional Fees: Decide how legal and other professional fees related to the purchase and management of the property will be shared.
12. Taxes: Determine how tax benefits will be divided.

Summary

Melissa, the time you spend creating a thorough agreement now will save you headaches—and possibly your friendship—later.

It's hard to believe such regulations as described in the thread are implemented anywhere. The end result will be fewer rental properties, minimal maintenance (properties in poor condition to reduce maintenance costs), and higher rents to compensate investors for additional costs and risks.

A rental property is valued by the cash flow it generates and its appreciation potential. When regulations increase risk, cap rent increases, and make it difficult to evict non-performing tenants, it's time to consider a 1031 exchange.

I was living in NYC in 2004 when I decided to start an investor services business. It took little time to realize that New York, New Jersey, and similar states were not good for real estate investing. I chose to relocate to Las Vegas for the following reasons:

• Unless the courts are backlogged (like after the end of the eviction moratorium), an eviction takes between 17 and 35 days, if you know what you are doing. Because evictions are quick and cost effective, tenants know that if they don’t pay rent, they will be evicted.
• The standard leasing agreement has significant landlord protections, thereby keeping rents lower.
• There is no obligation to renew a lease.
• If a property is sold and there is a tenant in the property, the lease survives the sale. However, the tenant has no say in the sale, such as you stated.

There are many other advantages of where I chose to relocate.

The anti-landlord regulations in many states are why we've completed over eighty 1031 exchanges. At some point, rent control and high operating costs make real estate investing no longer viable.

It's February, and it's time for another Las Vegas update. For a more comprehensive look at the Las Vegas investment market, please DM me for a link to our blog. There, you'll find detailed information on investing, both in general and specifically in Las Vegas.

Before I continue, note that unless otherwise stated, the charts only include properties that match the following profile.

• Type: Single-family
• Configuration: 1,000 SF to 3,000 SF, 2+ bedrooms, 2+ baths, 2+ garages, minimum lot size is 3,000 SF.
• Price range: $320,000 to $475,000
• Location: All zip codes marked in green below have one or more of our client’s investment properties.

What we are seeing:

The chart below, from the MLS, includes ALL property types and price ranges. The overall inventory is higher due to the season.

Rental Market Trends

The charts below are only relevant to the property profile that we target.

Rentals - Median $/SF by Month

We are surprised to see a slight decrease MoM for January as the properties we listed for rent in January all rented quickly and at higher rents. We will monitor the trend closely to see if it is a data glitch.

Rentals - Availability by Month

The number of homes for rent had a significant decrease MoM, in line with our expectations.

Rentals - Median Time to Rent

Median time to rent decreased significantly in January, in line with our expectations.

Rentals - Months of Supply

About 1.3 months of supply for our target rental property profile. This is quite low for January. This low inventory will continue to pressure up rents.

Sales - Months of Supply

There are about 1.4 months of supply for our target property profile. A 6 months supply is considered a balanced market. This limited inventory will likely continue to drive up prices.

Sales - Median $/SF by Month

The $/SF had a robust increase MoM. YoY is up 6.6%.

Why invest in Las Vegas?

The goal is to achieve and maintain financial freedom. Financial freedom goes beyond simply replacing your current income—it's about sustaining your lifestyle for life. To accomplish this, you need an income that outpaces inflation. Otherwise, you won't have the extra funds necessary to cover the rising costs of goods and services in the future.

What causes rents (and prices) to increase?

Supply & Demand

Unlike financial markets, real estate prices and rents are driven by supply and demand. What is the supply and demand situation in Las Vegas?

Supply

Las Vegas is unique because it is a tiny island of privately owned land in an ocean of federal land. See the 2022 aerial view below.

Very little undeveloped private land is left in the Las Vegas Valley, and desirable areas cost more than $1 million per acre. Consequently, new homes in these locations start at $550,000. Homes that appeal to our target tenant segment range from $350,000 to $475,000, so the supply of housing we target remains almost the same regardless of how many new homes are built.

Demand

Population growth drives housing demand and price and rent increases. Las Vegas's average annual population increases by 40,000 to 50,000 per year. What attracts people to Las Vegas? Jobs. Ongoing construction projects valued between $26 billion and $30 billion fuel employment opportunities. The most recent job fair featured over 20,000 open positions.

In Conclusion

While nothing is guaranteed, the combination of population growth and limited land for expansion virtually assures that prices and rents will continue to increase.

Thanks for reading my post. Reach out if you have questions or would like to discuss investing in Las Vegas.

Hello @Joe M.,

I agree with Dave Foster—the location of the 1031 exchange agent doesn't matter. We've completed over eighty 1031 exchanges and primarily work with three different exchange agents. I don't know where any of the three are located, nor does it matter.

Since this will be your first 1031 exchange, below are a few considerations.

• Before listing the property to be relinquished, choose a 1031 exchange agent. They will provide important information, such as the total amount you need to reinvest.
• If the relinquished property has a mortgage, it's important to determine how it will be handled during the exchange. Any reduction in debt or cash received may be treated as taxable boot, resulting in potential tax liabilities. Talk to your 1031 exchange agent.
• When dealing with multiple relinquished properties, it's critical to have all properties close around the same time. This timing enables you to use the proceeds from all properties to purchase a single replacement property. This requires coordination between the replacement agent and the relinquished property agent(s).
• The proceeds from the sale must go directly from the closing agent to the 1031 exchange agent; it cannot touch your hands or you will likely lose the tax deferment.
• Both the relinquished and replacement properties must meet the requirement of being held for investment or used in a trade or business. Personal residences or properties primarily held for personal use do not usually qualify for a 1031 exchange.
• Not all states fully recognize federal 1031 exchange provisions. Be sure to consult with a tax professional who knows the specific laws of the state where your relinquished property is located.
• You are not allowed to use the proceeds from the relinquished property to pay for renovations. Some of our clients have opted to pay capital gains tax on a portion of the proceeds and use that money for the renovation.
• There are two key dates for completing the 1031 process: the identification period end date and the maximum close date, as illustrated below. During the 45-day identification period, you need to identify up to three replacement properties. However, a challenge arises if any of the identified properties fail to close, which can result in losing the tax deferment for those funds.

• We've developed procedures to minimize the risk of not being able to close on (all) the property(ies) identified in the 45-day identification period. What we do is once all contingencies for the relinquished property(ies) have passed, we place the replacement properties under contract. We typically close the replacement properties within 3-4 weeks of the relinquished property closing. Therefore, if one of the properties falls through, we have enough time to secure another replacement before the 45-day identification period ends.

Joe, I hope this helps.

Hello @Michael Clardy,

Bill B.'s post and Dave Foster's response cover the options concerning 1031 exchanges. I will focus on how to buy a retirement home in the future while benefiting from a high-performing rental property until you're ready.

We have many California clients who plan to move to Las Vegas for multiple reasons. One of the most common reasons is the lower cost of living. When I've talked to clients who want to buy their future retirement home, I first understand what they want in their future home.

One person I talked to estimated that a Las Vegas home costing $800,000 to $1,000,000 on a golf course would accommodate their planned future lifestyle. I explained that a property in this price range would be a poor investment. In Las Vegas, rental homes priced above $500,000 attract what I call "transitional tenants." These are people who normally buy homes but temporarily rent while resolving whatever life circumstances made renting a better option. They typically only stay one or two years.

The tenant segment we target today rents properties priced between $350,000 and $475,000. Our average tenant stay is over 5 years. The rental income from this segment has been exceptionally reliable. During the 2008 financial crash, our clients experienced zero decrease in rent and zero vacancies. This makes it an excellent property segment for highly reliable income. Plus, since 2013, the average annual rent growth and appreciation have been 8% and 10% respectively.

In further discussions with this couple, they expressed their desire for both strong rental income and the tax benefits of investment real estate—advantages that are only available with properties in our target market segment.

Additionally, their desired retirement home features and the characteristics of a good rental property were completely misaligned. For example, they wanted a pool. However, our target demographic—families with elementary school children—is unlikely to rent a property with a pool.

My proposed solution was for them to buy two (or three) investment properties today that match our target demographic's housing requirements. These properties would generate income, provide tax advantages, and appreciate in value until they were ready to retire. Then (@Dave Foster and others, please comment here), about a year before they want to retire to Las Vegas, they could 1031 exchange these properties into a single property that would match their future lifestyle. Once they complete the 1031 exchange, they could rent this property out at whatever price they can get in its current condition. Then, when they're ready to move in, they could convert it to a residence and remodel the house to fit their needs.

I hope @Dave Foster and others can provide specifics on implementing this approach, especially when it comes to the long tax arm of California.

Hello @Zeina Awad,

As others in this thread have stated, where to invest depends on your financial goals. If your goal is only initial cash flow, almost any major metro with a declining population will meet this need. If your goal is financial independence, then there are more requirements.

• Your rental income must increase faster than inflation. Otherwise, you won't have the additional dollars to pay future inflated prices.
• Your rental income must last as long as you do. Tenants can only pay rent if they maintain stable employment with comparable wages. Since the average company lifespan is 10–18 years, most private-sector jobs your current tenants hold will disappear in the foreseeable future. Your long-term income depends on whether the investment city attracts new companies that create replacement jobs with similar wages and skill requirements. Without these replacement jobs, only lower-paying service sector positions will remain as area incomes fall due to the loss of higher-paying jobs, city services decline and crime increases. Residents with sufficient income will relocate to more desirable areas, causing a downward spiral of declining average incomes and deteriorating city services. This self-reinforcing cycle of decline has proven nearly impossible for most cities to reverse.
• Minimize capital required to purchase multiple properties. You will need to acquire multiple properties to replace your current income. If you invest in a city with rapid and sustained appreciation, you can reinvest accumulated equity to buy additional properties using cash-out refinancing. If you buy in a city with limited appreciation, every investment dollar must come from your savings, which is beyond the reach of most investors.
• Income continuity. Every week, we hear about another city devastated by a natural disaster. Even though landlord insurance rebuilds your property, that's not the main problem. When natural disasters occur, they destroy entire communities—including jobs. People have no choice but to move to cities where they can live and work immediately. The devastated community might take years to recover (or never recover), but your costs will continue (debt service, taxes, insurance, utilities, etc.).

Meeting the above financial independence requirements depends on the city where you invest. What characteristics should you look for?

• A city with a metro population greater than 1 million that shows significant and sustained population growth. Companies need robust infrastructure and a sizeable skilled workforce.
• Low crime rates are essential. Cities with high crime rates struggle to attract new businesses. Without new companies creating jobs, people have little incentive to relocate there. Never invest in any city on this list.
• Low risk of natural disasters. The best barometer for natural disaster risk is the cost of homeowner insurance. The lower the insurance cost, the less likely a natural disaster is to occur.
• Low operating costs. Companies avoid locations with high operating costs from taxes, insurance, and over-regulation. A good indicator is the property tax rate (Rocket Mortgage). High property taxes often signal inefficient and expensive state and city governments.

Zeina, if you focus on selecting a city based on your financial goals instead of the opinion of others, you should do okay.

Hello @Chris Atkins,

To achieve and maintain financial independence, only invest in cities that meet the following requirements.

• Significant and Sustained Population Growth: Rental rates follow the basic principle of supply and demand. As population grows, housing demand increases, driving rents higher.
• Rapid and Sustained Appreciation: Not all cities with growing populations appreciate rapidly. Cities with limited land for expansion have higher appreciation than those with abundant, low-cost land where new construction is preferred. Target cities where housing demand exceeds supply—this drives up both property values and rents.
• New Companies Create Replacement Jobs: The average life of companies in the US is 10 to 18 years. So, every non-government job your tenants have will vanish in the foreseeable future. Unless new companies create replacement jobs, the only remaining positions will be lower-paying service sector jobs. Therefore, an environment that attracts new companies is critical. Companies choosing new locations look for these key factors:
  • Metro population over 1 Million: Companies require access to a large, skilled workforce and established infrastructure.
  • Low Crime Rates: High crime deters both businesses and residents.
  • Low Operating Costs: Companies prefer locations with lower taxes and fewer regulations to maintain competitiveness.
  • Low Risk of Natural Disasters: Companies avoid areas prone to natural disasters that can disrupt operations. You can gauge this risk by checking state average homeowners insurance rates.

Few people live in cities that meet all the above requirements. So, the question is not whether to invest remotely, but where to invest.

Investment Team

Regarding properties in distant cities: While books, podcasts, seminars, and websites offer general knowledge, you'll ultimately purchase a specific property in a specific location—each with its own unique conditions. Success requires substantial local resources and expertise. Your most reliable source for this is a local, experienced investment team.

Summary

If your goal is financial independence, you must invest in cities that meet all the stated requirements, plus an experienced local investment team.

Hello @Christine Vasquez,

Many investors choose real estate markets based on gut feelings or popular trends. In this response, I will outline the process of selecting an investment city based on financial goals.

Financial independence

Financial independence goes beyond reaching a specific dollar amount, like replicating your current income. In a world of constant inflation, maintaining your lifestyle over time requires an income that meets four key criteria:

Rent Growth Must Outpace Inflation

If a basket of goods costs $100 today, in ten years, with 5% annual inflation, that basket will cost $162. If your income grows faster than inflation, you'll have the $162 needed to purchase the basket. If not, you must get a job to cover the difference.

Lasts Throughout Your Lifetime

Your rental income relies on your tenants maintaining stable employment at comparable wages. However, since the average lifespan of a U.S. company ranges from 10 to 18 years, most private-sector jobs your tenants hold are likely to end within that timeframe. Suppose new companies do not establish operations in your investment city to create replacement jobs with similar pay. In that case, your rental income may decrease as more workers transition to lower-paying service sector roles. Consequently, your financial stability hinges on the emergence of new companies generating equivalent employment opportunities.

Sufficient to Replace Your Current Income

A single property is unlikely to generate enough rental income to replace your current income, so you'll need multiple properties. The capital you'll need to accumulate depends on the appreciation rate in your chosen investment city. If there is little or no appreciation, every investment dollar must come from your savings. For example, if you need $7,000/month to replace your current income, and each property costs $250,000 and generates $300/month in cash flow, the amount of cash you'll need just for 25% down payments is $7,000/$300 × $250,000 × 25% ≈ $1,458,333. That's a significant amount of after-tax savings to accumulate.

Investing in a city with an average annual appreciation of 8% can be a game-changer. By holding the property until its value increases significantly, you can execute a cash-out refinance to fund your next purchase. This strategy has allowed my clients and me to expand our property portfolios with minimal upfront capital. It closely aligns with the principles of the BRRRR method.

Low Risk of Natural Disasters

Natural disasters can wreak havoc on your property and the surrounding community, causing job losses and the closure of businesses, which often forces residents to relocate. Although insurance may help rebuild your property, the community's recovery could take years or never fully happen. In the meantime, expenses such as debt payments, taxes, insurance, and maintenance persist.

Characteristics of a City That Enables Financial Independence

To maximize your chances of achieving financial independence through real estate, focus on cities exhibiting the following characteristics:

• Significant and Sustained Population Growth: Rental rates are driven by supply and demand. Population growth creates increased demand for housing, pushing rents higher.
• Rapid and Sustained Appreciation: In cities with abundant, low-cost land, new construction is often preferred over existing properties, limiting appreciation potential. Focus on cities where demand outstrips supply, driving up property values and rents.
• New Companies Create Replacement Jobs: A growing economy is crucial for tenant income stability. When companies consider new locations, they look for specific factors:
  • Population over 1 Million: Companies need a large, skilled workforce and robust infrastructure.
  • Low Crime Rates: High crime deters businesses and residents.
  • Low Operating Costs: Companies seek locations that allow them to remain competitive, avoiding areas with high taxes and regulations.
  • Low Risk of Natural Disasters: Companies are wary of areas prone to natural disasters that can disrupt operations. State average homeowners insurance rates indicate the risk of natural disasters.

Information Sources for Data-Driven Decision Making

Utilize these resources to gather the necessary data for your city selection process:

• Population Size and Growth: Wikipedia's Metropolitan Statistical Area page
• Appreciation Rates by Zip Code: Zillow Research
• Crime Rate: Avoid investing in cities on this list.
• Comparative Homeowners Insurance: ValuePenguin
• Property Taxes: LendingTree (as an indicator of overall operating costs)

The Importance of Local Expertise

While research and data are essential, remember that general knowledge only goes so far. Each property is unique, requiring specific renovations and compliance with local regulations. An experienced investment team can provide invaluable assistance in finding, vetting, inspecting, renovating, and managing properties effectively in your chosen market. They bring local knowledge and expertise that can significantly increase your chances of success.

Christine, I hope this helps.