It's very important to perform your due diligence on the operators, the markets their operate it, ask for their past transactions, history of their track record.

Predictions are for fools; numbers are for performers.

The good news about the saturation is a lot of investors bought in the height of covid, with abnormally high performance numbers.

Some states will give the underlying land while others will give the land but expect the newer owner to compensate the old while still others would require the owner to compensate the person who performed the value add.

if he performs a service for you, just pay him for it. 

@Jerry Chilimidos,Here is a list of lenders who specialize in lending to IRAs and 401Ks:https://www.biggerpockets.com/member-blogs/2810/50272-list-o...I don't know where your rentals are located and how they are performing but selling might be an option vs doing cash-out refi.I would certainly consider option C.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – and they often select the first PMC they call!

Some areas still offer strong appreciation potential along with steady cash flow, and when working with trusted lenders, you can find competitive rates in places like Memphis, Little Rock, and Oklahoma City, which tend to perform well on both fronts.

Once you have a market chosen I'd connect with a realtor/wholesalers in that market through BP or Facebook groups to get a first hand view from them on how their market is performing.

Beach condos can perform well but it is more competitive than SFR.