Most do so believing its only temporary but s*** happens in this business..... timelines get stretched, appraisals come back lower than expected, rates remain high longer than expected etc. etc. and what's intended to be a short term solution often adds quite a bit of strain to the property and your business.

Explain your medical and family situation and ask if they can reconsider the payoff amount or provide any temporary assistance or delay in foreclosure to facilitate the sale.

When you patch things for a temporary fix then you tend to have ongoing issues in early future years.

Yes, there may be some depreciation in certain markets in the next 6 - 24 months but overall when interest rates decrease buyers are going to flood the market and prices will increase again. 

Jack MillerI have not had any tenants not pay rent, but I have seen rents soften for multi family and condo rentals (roughly 5-10% decrease in rental rates). 

Would your -$1000 decrease in a  few years as you raise rent? 

Or is it mostly just a play to decrease volatility in booking rates? 

The state’s popularity among snowbirds (temporary winter residents) helps support demand in the colder months, allowing for a more stable real estate cycle than in states with harsher winters.Phoenix, for instance, has one of the fastest-growing housing markets in the country, with consistent demand for both primary and secondary residences.

I didn't want the hassle, so I am taking about a 10% decrease in revenue, but I have less to deal with.

Also, if zoning restrictions were to be relaxed, could the area end up like others with abundant supply, potentially leading to a decrease in property values?