When looking at properties in other cities, I usually start by researching market trends like price-to-rent ratios, crime rates, and growth potential.

There is no stock account that gives the leverage real estate does, at as low interest rate real estate does, at as low risk/ volatility real estate does. 

Good luck Not long ago you would do a true brrrr get all your money out and have a property with strong cashflow (low rates) for “free”. 

If that investor hadn't planned it carefully and re-invested that money into the property or even the purchase of another then a recapture fee would hit them hard. 

If it is someone you know you can give them a straight return as if its a loan - can provide a lower interest rate to provide upside - it really depends on the lender and what are they concerned with and what is their risk profile. 

What’s not working right now is traditional long-term rentals—high interest rates have crushed a lot of those deals.

At CA tax rates it doesn't take much to be a significant number!  

There is a not so inexpensive fee - anywhere from 5k to 100k depending on the program and they take a % of each deal. 

I offered them 10% down, interest rates favorable to me, amortized for 30 years, but with a balloon payment after 3-5 years.

Things they did bad which I wish I had asked more information about:Never involved in the screening of tenantsThey recommended keys for cash by waiving the rent amount buy only collecting fees which they would get not meThe cost to evict is 750-950 yet other companies told me they will include eviction in the priceThe tenant didnt pay in full last month and I was the one calling out to them and asking questions then a few days later I get an email saying something happened with the tenant and they are investigating.You get passed from person to person every week or so.No one told me when the construction was complete and so the house was ready for a week and the post to zillow and other sites was not done.It took them another week to take pictures and then another week to upload it.I was paying 200 dollar a month electric bills while the house was vacant because they left the AC running in the empty property.