I did market analysis to find the right rental rate.

@Kevin Duke Since Subject A’s $6M net worth is below the federal estate tax exemption ($13.61M in 2024) and Florida has no estate or inheritance tax, Subject B can inherit the property tax-free with a step-up in basis to the fair market value at the time of death, eliminating capital gains tax if sold immediately.To avoid probate, Subject A can use a Lady Bird Deed (Enhanced Life Estate Deed) or a Transfer on Death (TOD) Deed, which allows automatic transfer to Subject B while retaining full control during their lifetime.

These will be markets where housing is affordable for both residents and owners.

Think about your market and what people are willing to pay a premium for.

There is no one size fits all answer for this question, market to market, and property to property are all different. 

Unless you are sourcing properties yourself off-market, REI became much more challenging in 2023, and downright brutal since the start of 2024 here.   

My first duplex was a turnkey, off market property.

The stock market has been on a tear.  

I was interested in this type of deal because I was living in the area for another year and needed to build equity as well as dip my feet into the real estate market.

Southern Maine is a great market for long-term rentals, with strong demand in many areas.