He describes it like a big game of musical chairs with having to be in positions which are winning because his competition is in those positions and then try to guess when to get out before everyone is trying to get out at the same time so as not to be left without a "chair" or taking the loss. 

For me I tend to look for markets not on the lists because maybe less people will be investing there and prices will be more competitive.

The LTR will be the easy button (compared to other strategies in real estate) but will be less cash flow.

Lower interest rates would certainly make projects more attractive.It'll be interesting to see how lenders balance the need for risk mitigation with the opportunity to capture a larger market share by offering competitive rates

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

What makes a market rough is the barrier of entry to “real deals”.In competitive markets the MLS numbers won’t work for a disciplined investor and good markets are flooded with cash buyers who overpay either cause they have deep pockets or they don’t know any better.  

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And STR is much more involved with high turnover rates so you’ll not only need to post the listing but know how to keep it competitive so that you maximize bookings, of course, furnishing it, keeping supplies, restocked, cleaning, maintenance, And what about consideration to any local STR rules and regulations?  

We assume it's from the massive competition in the market.We listed our place on Airbnb for funsies and got bookings there.My conclusion is that the "traveling nurse" market is better suited for 1-2 bedroom townhomes and condos. 

Same thought on buying an existing location.We use a Wagon Wheel and or Linked approach to competition.