That is part of your return and you have to account for it.Since the beginning of time middle people have basically exploited inefficiencies in the market but eventually get eliminated or their role is drastically reduced: travel agents, stock brokers, floor traders, money changers, banks with tellers, cashiers, book stores, etc...

-STRs were essentially eliminated by the city, removing a potential investment class of properties-MF went from non-existent to overbuilt-Flips have been hurt by high interest rates and brutally low appraisals.

This non-profit specializes in fair housing practices/housing discrimination on Long Island, "Our mission is the elimination of unlawful housing discrimination and promotion of decent and affordable housing through advocacy and education."

You need multiple exit strategies because the condo association can restrict or outright eliminate your ability to rent out a condo regardless of whether its an LTR, MTR, or STR.

Do that and you eliminate the risk of bad tenants, maintenance, etc.2.

This approach eliminates guesswork and luck because you're buying properties that attract a segment with reliable people.

Utilize the borrowed money to invest in additional properties.Die: Upon death, your heirs will receive these properties with a stepped up basis which can potentially eliminate capital gains tax on the appreciation that occurred on the properties during your lifetime.Have you utilized any of these strategies in your real estate portfolio?

I would contend 90% of beachfront STRs do not compete or eliminate home ownership for middle class America. 

Eliminate debt, establish a budget, and save.

Ca may be tenant friendly but they have done more to eliminate bogus ESA than any other state that I am aware of with the passage of AB468.