"We do not expect much further upside for housing demand near-term.""

You need to be careful about where you're buying and what your expectations are.

@Hitanshu ShahDon’t expect to recover losses—it’s usually not worth the time or cost.

Here's some basic copy & paste info that may help you make better investing decisions:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Most of our out of state investors in Pittsburgh find success depending on their expectations.

I don' expect it to be a crazy market but better then 2023/2024

I focused on high-impact renovations that aligned with the expectations of Hamptons buyers.

There are a lot of affordable properties in Knoxville, but the growth isn't terribly vibrant and the deman isn't what you'd expect for a city of that size and that close to the Smokies - you're mostly looking at college rentals for the meat of the move season, and the SF market, while it exists, doesn't really compare to Chattanooga. 

Both sets of beams have to be broken for the alarm to go off. 

There's no excuse.I've had renters pick up the keys, then call me 30 minutes later to say the bedrooms are smaller than they expected.