I've been on the sidelines with real estate investing for about 2 years now given this highly volatile and high interest rate environment (at least relative to recent years).

You just need to know what side of the growth curve the market is in when investing in some of those more volatile areas.  

My opinion is that TX is volatile.  

That said, if you're thinking long-term (2-3 years or more), you might be able to ride out the current volatility.

Center with more mix of mom and pop versus national more 8 pref as volatility with small tenants.

An investment that is in many companies, reducing the risk of complete wipeout of the investment.Chances are these people you are referring to are invested in a broad market fund, and not in a highly volatile industry specific fund. 

This can have to do with reaching a particular equity threshold, real estate growth, or deadline.Markets for real estate may be very volatile.

@Evan Polaski yes the cash that I’ve allocated is going into low volatility liquid securities that also generate some yield.  

I also would not pay any additional principal until you have dedicated reserves for this property - STRs can be more volatile than LTRs so you'll want to be more aggressive about hedging that risk.

.- I've been on the sidelines with this weird high interest rate and volatile environment for about two years now.