I believe the price fluctuation over the last decade has been 10% +/-.  

Economic fluctuations can impact property values.Detroit, Michigan:Pros: Detroit offers low property prices and potential for high returns on investment.

It's about a three and a half hour drive from the Bay Area and has seen steady and consistent growth, even through the market fluctuations that other areas of the state have seen over the past few years. 

.- Interest rate fluctuations: Mortgage rates are predicted to decline, potentially dropping to around 6% by the end of 2024.

This might be easier to handle between tenants.Market and Economic ConditionsMarket Fluctuations: Be prepared for potential fluctuations in the real estate market that could affect property values and rental demand.Economic Factors: Consider economic factors such as interest rates, job market conditions, and tourism trends that could impact the Tahoe area.Exit Strategy:Backup Plans: Have a backup plan in case your circumstances change, such as if you decide not to move to Tahoe or if the rental market becomes unfavorable.Sale Considerations: Understand the process and costs involved in selling the property if needed.

While mortgage rates are a non-issue for you, the challenges of rising insurance costs and market fluctuations might deter other buyers, potentially lowering competition and prices.

Consider whether you aim to build a substantial real estate portfolio for ongoing income or diversify investments over time.Risk Management: Assess risks associated with property ownership, including vacancies, maintenance costs, and market fluctuations.Risk Management: Assess risks such as vacancies, maintenance costs, and market fluctuations associated with owning multiple properties.Tax Planning: Work closely with a tax professional to develop a balanced strategy that maximizes current income offset with depreciation, while planning for depreciation recapture and optimizing use of 1031 exchanges.

As you can see from the chart, inquires have been steadily declining (there is fluctuation in the chart depending on how many vacancies we have).

Have contingency plans in place, set aside reserves for unforeseen expenses, and be prepared for fluctuations in the market.Investment Strategy: Define a clear investment strategy tailored to your goals.

Rate lock: If you've already locked in your interest rate with the lender, it typically remains fixed for a certain period (often 30-60 days), regardless of market fluctuations.