Of course, you can't protect yourself completely, but this will also help you prepare for buying the next properties a little better, and it's an exercise I generally do when I'm on a showing for a property I'm serious about so that I'm factoring this into my analysis to some degree in a "capex" reserve.Capital ExpenseRoofWater Heater x2All AppliancesDriveway/Parking LotBoiler x2FlooringPlumbingWindowsPaintCabinets/CountersStructure (foundation, framing)Components (garage door, etc.)

You'd be surprised how many folks close to you are interested in RE OR are already involved in RE to some degree. 

Even if you do fix something up, you can't force appreciation to the degree that we've seen in the past 2-3 years.

@Andrew Steffens what draws vacationers to Tampa when it’s 90 degrees June-Sept.?

Would love infinite money) but cash-flow to the degree my wife can work if and when she wants to is good enough for me for now.

But you are effectively putting yourself into more debtThere is good debt, and bad debtStudent loans are IMO bad debt - yes you get a degree that gives you a good paying job, but it costs you money every month to hold that debtReal Estate debt if used properly can be good debt.

Getting to point #3 on this, I think this happens artificially to a degree due to the amount of agents withholding properties in Q4 of 2023 because of seasonality.

The average temperature in the United States is 50 degrees, but if you are standing in Death Valley or Gnome, Alaska, what you experience may feel very different.In the handful of MSAs that I monitor, I'm seeing YoY rent changes from (2%) to 8%.

The downturn will eventually spread across the nation, and to a somewhat lesser degree affect those areas that had lower price appreciation.My timing prediction: the oncoming slow-motion housing crash will become very evident within 6 to 9 months after the first Fed rate cut. 

And sometimes they dont care too much about how they pay in commission (to a certain degree) they just want out.