If so, they asked if I would like the rent to remain the same, or increase it.The tenant was late a few times in the first year, but I always received the monthly rent plus any late fees.

During downturns, those units tend to remain more stable. 

Occupancy rates remained robust at 74.1%, outperforming the national average by 0.9 percentage points.Asking and Effective Rent (ADR and RevPAR)ADR for all tiers is projected to grow steadily over the next few years:- 2024: $193- 2025: $197- 2026: $200- 2027: $204- 2028: $209RevPAR is also expected to show consistent growth:- 2024: $155- 2025: $160- 2026: $163- 2027: $166- 2028: $169Upper-tier properties command a significant premium, with ADR forecast to be $233 in 2024, compared to $122 for lower-tier properties.

As cost of living continues to rise there, this will remain the narrative.

You are right in your comments but the crux of the topic remain the same. 

Specifically, BG should remain strong due to the local demand and anticipated growth in the area.2.

Let me know if my thinking is on the right path.Q2: This is reassuring to know.Q3: In asking this question, I wasn't concerned about recouping the remaining rent, but whether he is legally obligated to pay it.

But thats only in year 1.Where things really work out in real estate investing is over time as the mortgage stays the same but the rents increase.After year 6,  that property would be worth 1.33 million (again, assuming the 4% appreciation) and they'd have a remaining loan balance of 791k which gives them 539k in equity. 

However, please remain positive.

I am actively researching markets like Cleveland and Columbus, but I remain very open to other opportunities.My goals are to successfully fund and execute a BRRRR project, build a team of veteran investors and mentors, and continue learning to attain financial freedom through real estate.Excited to connect with seasoned investors and mentors.