Haha but this makes complete sense.

Sometimes it makes sense to pay the gains if there are not adequate replacements.

@Olga Daisel I think I would focus on getting your Westlake home and using other funds to purchase rentals that make more economical sense.

Rates that low don't make sense especially if they're a no doc shop.

What states/cities make the most sense right now? 

But then again I’m not too good at people management.  

Studying the local market makes a lot of sense.

Ideally, I’d stick with a single market, but the numbers in Houston didn’t make sense anymore, and I didn’t want to buy another short-term rental.

CT isn't cheap so if you plan on doing it there you are going to surprised at how poorly you do. maybe in the suburbs I'm not sure but as much as I know people call us from CT and everyone is rich and has lots of money and things are expensive out there. build to rent is a great model. we build 3 story walk up infill and keep it to the residential side. 3 units is the most units before it's commercial and you need engineering, etc. check comparable and things liek that. we came up with this design a year ago and we sold 10 if you want to talk further please DM me happy to connect. there are some great build to rent conferences. we went vertical not horizontal with it to save on build costs and design to fit on any infill lot. this fits on a 3500 square foot lot. most lots in our area are 30x120 or 30x150. in miami where I live now they are 50x100 or so. but any infill lot we can pretty much get this one on. there are some great build to rent conferences coming up too that if you like this topic I'd recommend attending I'm sure you'd learn a lot.  

I see people doing this wrong in Michigan constantly.