High upfront costs and interest rates from lenders can quickly eat into profits, and funding delays can slow down projects. 

Structural and Foundation issues can really slow things down because the municipality will get involved with all their procedures and what not what it comes to those two areas. 

Unfortunately, it has also served to prop up the housing market just when it was about to slow down.Before this, the only multifamily low-down payment program available was the FHA loan, which required as little as 3.5% down.

I've syndicated multifamily offerings myself, and I have deep seated opinions in underwriting and asset management.There's one thing I seems to be consistent across the industry that I vehemently disagree with, and that's the expense escalator(YOY increases) for insurance.I STILL see people underwriting for 3% YOY insurance increases.

(i do think that household formation will slow way down in the late 2030s. 

Even small, common mistakes like renting below market, picking the wrong tenants, unwilling/unable to enforce lease terms, slow turnovers, or unscrupulous contractors can cost more than a good PM will charge, and that's before you account for your time and the stress.If you have the personality, I recommend self-management for anyone who lives within 1-2 hours of their investments.

If you send me your market though, I would be happy to deep that info for you and share it back.

If saving more helps you put more down on the rental AND you want to buy quickly, consider that route.If you are slow playing your next purchase, maybe you go a different route.Personally, I do not mind being more liquid and collecting interest or investing in the market vs paying debt down, but that is me...

"Deep Pockets" Landlord - you need to buy those 50% inflated groceries for your family with less net income. 

After securing the deal, the buyer made my wife and I go through three-feet deep of snow to "winterize" the house so there wouldn't be any plumbing issues.It was a 2 hour drive there, and a 2 hour drive back.So much time and effort put into it for only $4k...