I will give you some of my highlights.People in Texas complain about their property taxes at 3% ours are about 4.5%.New York in general and Monroe county specifically are very tenant friendly.Depending  on the town, the code inspectors/police can be quite anal.Since Covid and the 2020 protests we’ve seen an increase in crime in the city and therefore weakening demand in the city proper and increasing demand for the suburbs.Industry is well diversified—University of Rochester (medicine) L3Harris (defense) xerox (IT) and paychex (software/hr)) and relatively recession proof.Population growth is low and therefore appreciation (except the past 4 years) has been moderate as well.There aren’t many builders in the area so supply is relatively fixed.Home (and rent) prices are both affordable with homes typically being less than 1/3 median household income and rent being similarly affordable.For single family homes at 8% rent will cover piti with about 100$ to spare in the A areas.

I think California and New York are the new Rust Belts although with our current Governor, Michigan could be forced into the same recession. 

As a beginner with money on the sidelines, I would wait for the next recession before going heavy on RE.

I personally don't like the Class A aspect because those get hurt the most in a recession.

Forbes calls it a recession proof asset class.  

My market’s appreciation for this century, which includes the Great Recession which was perhaps the worst RE performance period in history, is at over 5%.  

There occupancy this off season was the lowest since the Great Recession   They are struggling compared to past years.Good luck

Renovated kitchen with recessed lighting, stainless steel appliances, fences, 2018 Trane HVAC, 2015 tankless water heater, 2015 roof, 2015 electrical panel, fence installed in 2018.Offering 110k for a flip would consider the 50k in rehape not considering the cosmetic stuff yet.

I didn't see any houses gaining in value during the last recession.

And when these markets go into recession, it depends upon their job base.