The rest are either flaky, unrealistic, trying to do a deal larger than their capability,etc.I make more in commission than standard rates typically because I dig for off market properties and get a larger fee.If you believe you are in an ultra hot market then just market yourself and get an attorney to help you out.

In times of ultra low rates things seemed to flip flop and people started preaching about cashflow. 

The smokies are ripe for this too, with the ultra low property taxes and no state income tax for individuals, if the only metric is coc or roi, then the only thing that ultimately matters is revenue and interest rates (day to day cost to operate are typical anywhere).

I have no interest in going full fancy concierge service for the ultra wealthy, it's too expense in overheads from labor which is extremely difficult to find in rural MT, and then it just feels like a snobby hunting club which is antithetic to Montana values.I couldn't/wouldn't do the time share model as well, because again, that comes with higher amenity expectations and people actually have rights to time as real property.Thank you for the input!

The investors backing the family offices in those cases are ultra wealthy and do not need yield today.   

We went out of order building phase 3 before finishing phase 2.. but it was the right call we would not be performing nearly as well if we did not have these ultra nice single levels for our empty nester cash buying clients.. sometimes you make the right decision ..

And honestly, most wealthy and ultra wealthy people make their money outside of real estate and then maintain their wealth with real estate.But back to real estate: If your goal is passive income, you need to make investments that generate passive income.  

Tell me if I'm missing something, but with real estate being ultra rate-sensitive I don't see how the fed can stop this self-eating snake if they are looking to stop shelter inflation.

Large warfs of it, if you have the funds to hold it long-term, in growing markets, are good returns and hassle-free when compared to the potential hassle of rentals, even with property management (without a team set up that's ultra-solid).

So be very, very careful and ultra transparent.