Your plan to flip in your market and reinvest in a cash-flowing, landlord-friendly market is smart.

@Jae Yoo you should read your PM contract very thoroughly or even hire an attorney to do so, before thinking you can just break it.How would you feel if a tenant just broke their lease with you?

Cleaning up the lots to unlock their development potential was a smart move.

Renegotiating some utility contracts (garbage and removing some on site office paid internet/phone bills) 5.

This also leads owners to ASSUME simpler is better when it comes to management contracts.

They have a system, team, and their own contracts, and also provide proof funds, even the EMD. 

In 2021 and early 2022 most properties in my market were going under contract within 4-5 days, with offers 20k-30k over asking.

using a TREC 1-4 contract so hard to scam there.  

Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

@Chris Seveney Hey Chris, Thanks for sharing your perspective, it’s a smart, long-term approach.