I got so lucky - the first 3 years, during the depths of the pandemic, I had a perfect tenant, no problems, even during the storms. 

A smaller down payment could result in breaking even or even a negative cash flow.

So, perhaps hiring a couple day laborers to help them move or even paying the 1st months rent on a storage unit would be better.

Unfortunately, it's near impossible to find anything over 10% cap rate and 10-20% CoC return... even in the midwest, you won't find anything like that.

Hi @Katie Lyon,Properties are typically still selling in Cape Coral right now to active buyers, even with elevated inventory.

Those failures are  more negligent than a PM allowing a guest who paid with expectation to stay at the house to remain there in the middle of winter when they arrived on a Friday evening as you described.For now you will have to rely upon insurance, I don't believe the PM acted unreasonably given the circumstances.

This will simply causes prices to be even higher, and continue to constrict demand... 

I'd build up and go for at least 2 units but 3 stories is better. 3 story walk up apartments account for almost 65% of apartment developments round he country. this is what I'd recommend on your lot. this is 35' tall and we do it in columbus oh  Wow, I wish we had even $200/sq ft here in California.

Even in your area, you may meet other out of state investors so you have more context for when you talk to the people who will make up your team there.

The idea is simple: purchase a property, live in one part, and rent out the rest to offset your mortgage or even generate profit.