We may skip one year if the market is really weak or the tenant is worthy of a reward, but that is rare.Some years and some markets have increased 10% or more in one year, which means you are falling way behind.

Core inflation is barely below 3%, and jobs, while weak (and even weaker now that the data is apparently way off), are not dropping off the cliffs required to justify a 25+ bps drop.

You need to do a SWOT Analysis of yourself--what strengths, weaknesses, opportunities and threats face you on your journey and in between you and that community defined end state for the real estate.  

Even with a PM though, you still have to manage the manager, so it's not truly passive like shown online.With that said, I also think it's very smart to outsource your weaknesses.

Simply put, another weak report would greatly increase expectations for a 0.50% Fed rate cut whereas a stronger report would all but guarantee a 0.25% cut.

I basically group the business into 2 segments, administrative tasks (pricing, marketing, guest communications) and field tasks (cleaning/maintenance).Part of being a successful operator of anything, you have to know your strengths and weaknesses. 

Ive found that offers with quick expatriations are either incredibly strong, or incredibly weak, with virtually none in between. 

If they say another investor, that in itself is an indicator that the market fundamentals are weak and you should move on to the next town.  

The market is funky and condos are usually the first to show signs of weakness.

They now see you as a weak landlord and will walk all over you every chance they get.Please don't make another mistake by housing them for a renovation and then handing them keys to a renovated rental.