Home prices are higher than they normally would be even in these tight market conditions.Tell me why!

For example, are lenders stricter about DSCR ratios, or do they require higher reserves?

@Irene Morgovsky what you are experiencing is that rents do NOT increase linearly with property values.Or look at it another way, the pool of renters that can afford higher & higher rents, shrinks faster than a corresponding pool of buyers.You could look into making it a short-term rental to try to improve rental income, but:1) Is it allowed in that area2) STR rates are coming downYou may have to accept "negative income" or sell.

I'm currently looking for a multifamily property, ideally with 10+ units and a cap rate of 7% or higher.

I'm not sure how much your leverage your lender offers, but you may be able to enough cash out if you use higher leverage.

I will say, with furnished rentals, it takes time and money to fully furnish them with all the bells and whistles but it did allow me to get higher rents... only downside is, if you are out of state, it is not easy to manage remote unless you have a good property manager/company.I have personally started to transition out of STRs due to zoning/town regulations and have already unfurnished one of the apartments to turn it into a long rental for more stable residual income.

Most owners of short-term rentals on the islands and the nearby areas have been dealing with the triple whammy of a slowing economy effecting rental revenue this year, higher insurances and higher property taxes.

More buyers to the market, more sold homes and more higher priced comparble sales on appraisals going into 2025. 

They never received the cards, I keep them, so there’s no danger of them ever using them on anything and they get the benefits of the higher score

Besides, all the features I want are in the higher subscription categories (calendar feature, bank reconciliation, free ACH transfers) that cost $119 and $169 per month for 20 doors or less, so... meanwhile Landlord Studio has the calendar feature and bank recon baked into their sub price of $12/mo +$1 per unit.With that said, I'll probably stick with Stessa for now (free version), and continue to just let my tenants text/email me when issues arise and whatnot, and try not to yoink my hair out over my bank hating Stessa for some reason.