That 4 I mentioned was bought 5 years ago.

I'm struggling because the first 3 homes I bought were homerun off market deals 3-4 years ago w/ great cash flow and appreciation. 

Can you expand on your comments that the student housing properties were bought using extremely optimistic projections and at an extreme premium to the Market?

FlashlightTape measure/Laser measurePaper/Pen/iPadBinocularsReceptacle testerLevelMarbleDroneRespirator/Face Mask/Eye Protection/GlovesAQI testerWater pressure gaugeThermal cameraEndoscope cameraKnifeI bought over 20 houses in my lifetime and I’ve never taken more than a flashlight. 

Those that could afford the huge mortgage bought a primary, built ADU and did STRs or MTRs in S.F.

I bought my own house on a lease option.

Housing prices are high, mortgage rates are high, and competition is fierce so revenue is way downIt’s one thing if you bought a while back like many of us did, so your cost basis is much lower.

I bought the first one 13 years ago when I was in my late 20s.That’s awesome.

I bought a 3 acre plot in Sonoma county CA. late 90s unbuildable everyone told me it was not worth buying since it would not perk and you could not build on it and Utls are a long way away. etc etc.. well there was a new overchange put in about 3/4 of a mile away connecting my access road to the freeway . 

There are exceptions for very large projects where national players like MasTec (who bought IEA, one of the largest solar and wind installers in the US), exist.