Success:  Signing a deal with First WatchFailure: Bought a retail condo, not realizing the low ceilings were such a deal breaker for a lot of tenants.Pain: A lot of turnover this year, especially in light industrialAha moment:  Mortgage note investing needs to be a larger part of my portfolio2025 Goals: Less Investing and more pickleball!

(Sidenote, cattle inventory in the US is at an all-time low and now we are shutting down imports from the south because of a parasite "new world screwworm") - so I guess my steaks are going to go up no matter what. 

Quote from @Bonnie Low: Hey, Colin!

They keep rent low, give gifts and homemade cookies for Christmas, make upgrades whenever the tenant requests,  accept all the late rent excuses, etc.The truth is, your tenant is not your friend.

Up north the gas company will install additional meters for a very low cost, usually hourly billed time for the work and possibly low cost equipment.

I feel like it's a space where great operators can really clean up, since the bar is set really low, in my experience at least.

Quote from @Bonnie Low: I work with a lot of MTR investors and what I am seeing frequently with multifamily acquisitions, particularly with new investors, is that they often test the property just like you're mentioning, as a way to dip their toes in the water and see what works in their area and for their personal style.

Its a long term low cost play for me.

my market is near the nation low in both evictions and delinquent rent even with very tenant friendly laws.  

I mostly work in low to moderate income areas anyway so it checks all those other boxes.