The covid money is all gone and the economy is so so right now which should keep inflation down and keep the fed pushing rates lower which will help get mortgage rates lower eventually.

In my opinion, the Flock success has nothing to do with their performance but with the general overall US real estate economy.

But, if something doesn't change in the economy, they will fall behind on credit cards, then mortgages, and things will begin to fall. 

I want to limit my risk as not knowing where the economy may be going. 

We are less susceptible to economic down turns because everyone here is a GS-15 married to a Booz Allen contractor and they will keep getting paid by the government regardless of what happens in the real economy.

Houston – High rental demand, and with its diverse economy, there are strong opportunities in growing areas to balance those rising property prices.2.

This growth cannot be guaranteed though, since it all depends on what happens in their respective economies.

It goes deeper than that.NYC Liberal policies, including strong tenant protections, increases the risk of failure so much that the risk far outweighs the rewards.Financial ruin is just around the corner for the small Mom and Pop Property Investor that it doesn't make sense for them.The Tenants will have free Attorneys that are bent on delaying eviction cases so long that it stretches into years while Mom and Pop suffer from lack of rental income and still have to pay all the bills and do the management.Additionally, the increase in homeless living rough in the streets due to Sanctuary laws causing a lack of shelter beds, then evicting shelter residents after 30 days creating more homelessness, policies that tie up the Police's ability to arrest perpetrators, etc. only causes Mom and Pop to sell out at large discounts to larger Landlords who are capable to use Economies of Scale to eek out a profit.These larger Landlords will eventually turn a much higher profit as the pendulum will eventually swing towards the middle when the NYC Voting population eventually realizes that it's not a conspiracy of the Rich that's causing the Wealth Gap to increase.It's the same liberal laws that encourage people to become lifelong tenants, small Entrepreneurs (including Property Owners and small Mom and Pop Businesses) to be destroyed, and Rents to rise astronomically as housing becomes scarer even when the population declines by as much as 7% in the last several years. 

Soft currency, hard currency, it’s equivalents and commodities (natural resources)From there, For local economy cash flow (spending money where you live), you’ll probably get into real estate and local business cash flow activities and it’s deviations 

Single-Family Homes (SFR) offer lower purchase prices, easier management, and better cash flow, while Small Multifamily (Duplex, Triplex, Fourplex) offer better cash flow, economies of scale, faster scaling, higher purchase price, complex financing, and tenant management.Good luck!