I was talking to a RE friend.He said it's a bad time to buy* rates are high* homes are expensive in most marketsLooking to hear some counterpoints. 

Is the property under a high tension power line or down wind from the horse rendering factory or on a main thoroughfare or some other obstruction that you wouldn't want to live near?

Maybe the tenant set the thermostat high? 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

This generated $2M+ in equity, and thus is highly lucrative, but takes 2-3 years.Note worthy: I am located in California, but I did this project in Canada.

Condo's are usually on the cheaper end of cost for appraisal reports, typically not $750 (but if it's a high end condo or in an area with there's some complexity, the fee can reflect that). 

Interest rates atm seem quite high so will ride this out a bit longer (and ratios will continue to improve over time.) 

I suspect they will be highly sensitive to that.

This is a highly regulated activity by the CFPB.

These areas tend to attract high-quality tenants and provide consistent passive income, which is a great foundation for building your portfolio.If you’d like, I’d be happy to share some insights about these types of markets and why they’re appealing to investors.