Possibly pivot to other investment strategies or use alternate rent models.  

I am far from an expert in this field as I have been learning alot myself but cap rate does play a role in your type of business.

The article also fails to mention that overall transaction costs can actually be higher in countries where commissions are lower because the agent plays a different role, and due to needing to pay a lawyer for paperwork that agents complete here as part of their job (called a solicitor in Britain) plus VAT taxes and other closing costs need to factored in on top of the sales commissions, which we don't have here, overall costs can actually be higher even if commissions are lower. 

Real estate investing is a team sport and at different points in the game different players will play more important roles.

Use surveys to gather feedback on their experience.When tenants feel valued and respected, they’re more likely to take care of the property and renew their leases, saving owners time and money.Fairness with VendorsVendors play a crucial role in maintaining properties, and treating them fairly ensures they remain reliable partners.

Asset manager role would be to give advice on property that could be value added and increase the income on a property by small or big tweaks.

Hence you can see how interest rates play a large role in determining cap rates in a market in my opinion. 

The beauty is, you can rinse and repeat, moving your equity up the ladder of properties, from a small duplex in Austin to a bigger aprtment complex in San Antonio, or even pivot into a promising commercial spot right here in the Phoenix area.I remember a friend of mine who started off nervous as heck about his first exchange.

But when the two elevators went down and we realized we were barely able to make DSCR and weren’t cash flowing enough to cover long term major maintenance and cap ex, we had to pivot into Plan B.in regard to renovating in a partially occupied building, it’s a nightmare.  

Neither are sexy or net big gains but I'm moving forward paying attention to trends and ready to pivot as the market pivots.