When a rental market softens, higher cost properties are the first to require discounting.You may also want to check on 1031 rules.

You might need a floor sander or something similar to grind away at the softened adhesive if you want a very smooth surface.

I admit there is rent softening everywhere in the Bay Area. 

I guess it’s possible, but it would be way too low to be worthwhile, because a 6k net cash income can quickly turn into a negative 20 or 30k cash outflow if you need to replace a furnace or if the STR demand softens. 

That plays out in Oklahoma with flip #'s often being pretty slim right now.

We currently hold a minimum of $2,500/unit in reserves and are working to increase this as rates rise and the market softens.

If you're looking at those same two metrics month over month, from June to July, median sale price decreased slightly from $435,650 to $430,000, and average sale price similarly saw a very small decrease $533,077 to $524,261These decreases being as minor as they are, this is actually the first time we're seeing any kind of market softening in the numbers month over month, but we've obviously been dealing with rate hikes since the beginning of this year.

The inventory has increased, prices have softened, and mortgage rates have been swinging, all of which has impacted the market in various ways.

From a few other investor friends of mine, it seems like the market is softening on the higher end so I would advise to be careful with your numbers if you get any deals in those areas.

@Nikki TaylorIn my opinion Philly is a softening market at the moment with lots of inventory and more hitting the market each day.