As you get larger, you can typically get better management fees, but you typically won't shift from a flat percent to percent + payroll until you get closer to the 40-ish unit range.

The 65 year old lady that was struggling though her shift at Lowe's was cutting my blind.  

Quote from @Shiloh Lundahl: Goals shift over time.

There are accountants who say that applies to the opportunity to discount sale and/or basis shift to further lower the tax bill.  

Lack of volume has created an inefficient market, so some paradigms have shifted.

I might also compare it to other markets..like Austin or Phoenix..where property prices have been shifting (from what i read in CNBC) but still show growth potential.

It’s also worth diving into local regulations and HOA rules—they can shift quickly in coastal markets like this.

They were selling on pro forma, but the market and the debt market have shifted, and it's aa lot harder to achieve higher pricing with lower rents.We've purchased over 2,000 units, and the simple answer to the question is that they are either mom and pops and run their businesses with ZERO KPIs, they do not want to risk losing tenants if they raise rents, and they don't treat their asset as a business.When you take over, it can be difficult to get rents to market if they are very suppressed.

You’re absolutely right about the market potentially shifting, and this is where those who are ready to act and think creatively win big.

In San Antonio, I worked alongside an investor who converted an abandoned office building into modern apartments, leveraging tax incentives for adaptive reuse.The Right Moment to ActEconomic shifts in 2025 present a golden opportunity for innovative investors.