This allows investors to get into the market at way lower price points.

This often means a smaller down payment and lower monthly payments compared to a traditional bank loan, especially since the seller may not be tied to the high interest rates banks are offering.Another option is a land loan from a local credit union or bank.

Lower end wines are losing favour to higher end wines despite lower end wines outpacing high end wines of volume growth.

I would imagine the hold back is lower.  

I believe it tends to give me a slightly lower return, because the sponsor is going to be more careful, and if there is a severe downturn will prevent me from taking catastrophic losses.

Buyers that would buy if rates were 1% lower.

Very few people have reached financial independence...and others that have reached it that keep working do it for personal satisfaction.Incidentally, most of us consider real estate, done properly, to be lower risk than the stock market, which is why we invest in it.

That's what keeps investors like yourself holding on because the cash flow is non existent between management fees and cap ex which may not present itself in year 1, but when it does, its crushing in these lower price point properties.

For example it does not consider who pay the utilities, obviously if the LL pays all the utilities, the net is lower. 

I owner occupy the home, renting a room to a friend at $650/mo, and the lower unit rents for $1850/mo - total rental income of $2500/mo.