As soon as a life event happens with that tenant they tend to start trying to renegotiate the rent lower, move somewhere cheaper, go buy a house to own directly,etc.There are some areas where renters are outpacing supply so landlords can almost do whatever they want in charging rents ( if rent control is not in place) but those are few and far in between on a national scale.Just think of if you are top market rents and do your purchase projections based on that assumption what happens when the market shifts and rents go from 1,200 to 1,100?

When the market shifts you will be able to change your strategy.6)    You will be following the law.

In fact, in my opinion, it's your foundation and your safety net that allows you to wait out any market shifts.

And I 100% back that mentality...I work mandatory OT every week on the graveyard shift while simultaneously learning real estate and going to school lol

Though here and there I still perform for the home owner, my focus has shifted towards Home Flipping.

I have an unconventional schedule as a nurse (working 2-3 12 hour shifts per week). 

When I was 17 -18 years old I used to work in a parking garage, my boss had one leg and he was able to drive a stick shift - NO I'm not kidding . 

You could wait tables for one shift and earn twice as much without any of the risk.

All that being said, I have shifted most of our marketing focus to my wife's realtor business, as that seems to be the best strategy in this market.

As money rises there tends to become a shift to more safe equity growth and wealth preservation while making acceptable cash flow that outpaces inflation.Just like taxes every investment strategy is different.