So, David L, if your objective is a successful exit (or even predictable returns as forecasted - which was my objective), my opinion is stay far away from Open Door Capital.   

Quote from @Gregory Schwartz: I just read this article from Redfin (Housing Market Predictions for 2025) that predicts mortgage rates will stay at 6.85% in 2025.That seems like one of the few predictions saying rates will stay that high.

This approach helps manage costs while providing predictability for tenants.Thanks @Julia Lyrberg!

It's an asset that provides stable predictable income as well as appreciation and tax benefits next step buy yourself a Bently and celebrate. 

It's really hard to predict where regulation will go and it is indeed one of the risk factors for all investments.

That will be a determining factor for where it makes sense for you to purchase.Regarding waiting - bear in mind a lot of people were predicting rates in 2024 would be in 5% range or low 6s, which didn't turn out to be the case.

When you move out you begin to experience POSITIVE CASH FLOW in which your tenants help you buy the property.....where eventually you own it out right, and now it becomes like a pension..........Predictable and Sustainable income for life.   

I know a few pro football players that had short careers.

What do you predict for the STR's in 2025?  

Many laundromats take card payments these days, which is very helpful in verifying revenue.Look at the lease terms – long-term leases with reasonable rent increases are important for keeping costs predictable, and can also be important for securing financing.Also, check out the equipment and figure out what repairs or upgrades might be needed in the near future.