Multifamily and with strong retail tenants as a bonus. 

Strong jobs reports had a larger effect on the 10 year treasury, followed by strong retail sales numbers, followed by EU inflation numbers, then followed by election results but honestly election results only affected rates for a couple of days.Lots of pressure on treasuries from the level of debt the US is carrying, but remember the Fed is also still doing quantitative tightening (while cutting rates) which is additional upward pressure on rates.

Strong rental performance & return Lessons learned?

With some of my clients, I've seen discounts of 30% to 90%.Here is a real-life example: I invested in a $50K note; it was second TD but with significant equity (over $200K) protecting my investment. 

well you have your own answer there are no lenders for entitlements  there are JV partners like me for entitlements but its not at traditional lending rates of course as its all risk capital.WI funded 3 entitlement deals in 2024 in Loudan  county VA to the tune of 7 figures in cash. since my client does not own it its unsecured ..

Although for me being one a premier client of our title company they would do date downs for me for free and also keep a running spread sheet for me.

It could be a good option if the investor strongly desires ease and passive style.

I've been down this road with a couple of investor clients before.

I still have clients buying in Vegas, but it's not as common due to cashflows being hard to come by with the traditional 25% down financing.  

Great area with strong rent demand How did you find this deal and how did you negotiate it?