Several economic factors are contributing to this shift:Overbuilding: Some areas of Charlotte have seen significant overdevelopment, leading to an oversupply of rental units.Tighter Money: Rising interest rates and economic uncertainty have made tenants more cautious with their spending.Tenant Behavior: Many responsible renters are choosing to stay put rather than take on the cost and hassle of moving.What Does This Mean for Landlords?

A mere "pet" must either stay home or charged extra for. 

If you stay in Northern Minnesota you could look to locate closer to Duluth which has a large supply of duplexes at prices much below $500K.

Right now, we only have a couple of rental properties; they were turnkey investments that my business partner had before I joined him.A bit of advice that might seem obvious but often gets overlooked: stay very organized.

On the other hand, I’ve also considered staying in South Jersey.

I would consider staying with your parents and investing in another market that stretches your dollar and covers the cost of a professional property manager.

So that has been my "next action step" to wait for a clog to happen again and have him camera it, but it has now been almost 1.5 years with no incidents.TLDR: There is a chance that the bottom bathroom tub/toilet could fill with sewage during a guest stay, but I am hopeful that the next time it happens will be the last.

I have tenants that stay many years.

@Jordan Meltzer unless you find a screaming deal - a Class A property won't cashflow for 3-5 years.Class B: 1-3 years.Class C: most investors don't properly understand the risks, so should stay away from them.So, you may need to deal with negative cashflow, but plan on appreciation increasing your wealth.

I would provide the capital and otherwise stay passive, but hopefully grab better profits than private lending?