Cities and states are making up their own rules about a whole lot of stuff.

Even stuff on the counter....

Scary stuff.

Sounds like you skipped cap-x and just took a hit of "hopeium" instead. ya, that stuff will rot your brain and drain the wallet fast. 

Also, I think a newer building would make my life as a landlord a lot easier since I don't have much experience and wouldn't have to worry as much about stuff breaking down all the time.

The basics are the most important part, but you need some cool stuff.

Now for the good stuff -- my naive proposal. 

Traditionally, DSCR loans that allowed STR have always wanted DSCR to be calculated on long term rental rates OR 12 months of actual performance or some heavily hair cutted version of Air DNA and all of these products would price gauge on rate.

Beyond that been thinking about rolling into a self directed IRA and doing some syndication stuff. 

I could make a case that yes some of the new construction stuff is overpriced that will come down but with regards to anything else besides that there is no market crash in general that's going to happen.