Economic Timing.According to data compiled by Marcus & Millichap[2], the Portland area has experienced three very important trends since 2010:The average price per unit for apartments has nearly doubledThe rate of employment growth rose from 2010 to 2015 but has since declined steadily, projected to be up 1% for 2020 (estimated before COVID-19)Roughly 30,000 apartments have been built since 2010, with another 5,600 units slated for construction in 2020Most RHA members have enjoyed a solid decade of price growth, rent growth and steady occupancy.

Has cash flowed between $50k and $56k the last 3 years with upward trend.  

Is the trend going up or down?

I also think the market is so slow that if an investor is paying attention they will see a trend forming and can react in before there is material shift in values. 

Key things to focus on include researching landlord-friendly states, understanding local market trends, and building a reliable team (property manager, realtor, contractor) in your chosen area.

Whether you’re buying or building, focus on doing so below market value to secure immediate equity or strong cash flow potential.It's also important to thoroughly research the local market—pay attention to trends like rent potential, job growth, and population increases.

We will see how things shape up.

This will show trends and help you see the bigger picture.

No offense, but absolutely, positively in no way shape or form would I, as a lender of over 30 years, provide a loan to someone with no out of pocket capital.

But for someone thinking about scaling and possibly repeating the strategy in multiple markets.. say, Austin or San Antonio-going the investment property route might provide more long-term flexibility.Have you noticed lenders trending toward stricter definitions of “second homes” versus investment properties?