I see a slow slog downward until we hit the balance point mostly because the rates will remain elevated 6%+ for another year at least.

For investors, making informed purchasing decisions and gaining a deep understanding of the market is essential though.

Start by learning the real estate basics, study the market, set your goals, get a team of experts, make friends in the field, look into how to pay for it, begin small then grow, do deep checks, and go for it.

Not a high cost of debt/capital at all, so we are not concerned about the balloon payment.Regarding long term goals, we plan on building slow and steady over the next 10 years, but then have them all paid off within about 20 years for retirement income from the rentals.

More people are booking STRs than ever before, and that trend doesn't seem to be slowing.

(Yes I know there are other restrictions/conditions.)In the past, I have toyed with the idea of a vacation/rental property in Ocean City, MD, Rehoboth/Bethany/Dewy, DE, and/or the Deep Creek Lake, MD area (I like the idea of being within 3 hours of the rental property in case something goes horrible wrong and I need to travel to the property). 

Keep in mind, when you get ready to sell houses in low-income, el cheapo areas, your only buyer will be another investors who will want a deep discount. 

I am trying to not throw a ton of cash into the fees as I’m already about 12-20k deep in.

But, when business slowed down somewhat, it got to a point where it was easier and more lucrative to do most of the work myself again, so I did.Here's some other ideas:Find a job directly with a large company that will hire and train you while being paid.

Usually you can get a deep discount at a foreclosure auction.