You have the same if not greater interest rate risk with a trade.Real estate is not the stock market and the hardest thing for some people is often to do nothing for decades, but that is where the money is made.

I have had several Colorado LLCs (single member LLCS with one single family residential rental per LLC, so very small-time) for a decade, and always file my periodic report so am in good standing with the Colorado Secretary of State, but have only just heard that I need to file a BOI report before the end of the year.

Most of us that have been in development buy from those that have normally owned for decades

Our developers have all noted that HUD has gotten much better with this program in the last decade and it more depends on the local housing authority being good or bad.

I've had over 100 broken windows in the last decade and only had 4 of those admit to breaking it on their own.

Quote from @Max Yuan: I am a software guy that got into wholesaling, so it is not like I've been in the industry for decades, but definitely in your shoes last year.1.

I spent over a decade in multi-phasic residential development before leaving the "W2 league" of things.

Times change, markets change, interest rates change, but we still hear about these same old "rules" decades after they lost their relevance.The same logic applies for napkin math rules that say that capex, vacancy, repairs, or whatever, should each be estimated at X% of monthly rent. 

We have operated STRs since 1999 and they had been around long before then (STEs have existed for many decades).  

Now people's minds have been so polluted with this marxist-socialist drum beat for decades that people now default to a socialist answer of "Make Them ____, that's the answer, MAKE EM DO IT MY WAY" and that will fail every time because the very framework is designed to operate opposite.