Good question and we don't have a crystal ball.

Quote from @Crystal Smith: Quote from @Gene Jung: I have 500k to allocate into real estate.

As much as you want your version to be crystal clear it’s not. 

I don't trust any syndicator without my money without crystal clear comps. - Capital stack needs to be clear, with preferred equity (if part of the stack) clearly represented as what it is - second position debt that multiplies leverage on common stock. 

@Crystal Smith thank you so much!

I just want to make sure that the record & expectations of what people can expect from Holton-Wise are crystal clear.

Have you looking into the Navarre Beach or Panama City Beach Market: 1 Location: Located on the Gulf of Mexico, offering beautiful beaches and crystal clear water. 2 Lifestyle: Navarre Beach is known for its laid-back, beachy lifestyle, making it a popular destination for vacationers and retirees. 3 Investment potential: Property in Navarre Beach can be a good investment since there is tons of new construction occuring on the beach and inland. 4 Community: Navarre Beach has a strong sense of community, school systems with many local events and activities throughout the year. 5 Natural beauty: Navarre Beach offers a variety of natural beauty, from the beaches to the state parks and nature preserves. 6 Quieter: Navarre beach is a quieter alternative to the busier beaches of Pensacola and Destin, but still close enough to enjoy the activities and amenities of those areas. 7 Military friendly: Navarre beach is home to Hurlburt Field Air Force Base, making it a popular destination for military families and veterans. 8 Affordable: Navarre beach offer a more affordable option compared to other coastal towns in Florida, making it accessible for first time buyers or retirees.Rentals, appreciation and gentrification is happening in these areas with new price point emerging due to infrastructure being built out. 

Quote from @Crystal Smith: Quote from @Kevin Si: Hi BP members,I am looking to invest in a SFH that cost about $400,000. 

If your intent is to sell your rental(s) and leave the RE asset class then I suppose the # years of cashflow metric might be more applicable, but I think it heavily relies on the assumption that you've accurately timed the top of the market which requires a crystal ball and sorcery above my pay grade.

I want to implement some additional verbiage in our rental agreement so this doesn't happen again and things are crystal clear to us/tenants who do end up being "month to month".