What options are you considering in this segment?

If not, you may want to spend more to be in a different market segment, but I might suggest you won’t make much (if any) more profit on the nicer unit... but you will be dealing with a slightly nicer caliber of renter... more white collar versus blue collar. 

That said, if you are confident that that segment is overheated, I'd fix up and sell.

In that market segment you will find many of those owners are tax deduction people.

In addition to the location, there are two more components: the tenant segment and the property.

Rents follow prices, and prices increased >9% YTD for the segment we target, so we expect significant rent increases in the foreseeable future as they did before interest rates exploded in 2022.SummaryTodd, as long as you can sell your property, you have options.

Cities will have to manually adjust their code if there is enough support for it to become its own housing segment - until then it's a fad like mullets.There are lots of 1960's and 70's mobile homes that are very serviceable today and in great shape.  

What segment of the market are you targeting i.e. absentee owners with >than 70% equity in SFR or condo's, or pre foreclosure etc.?

It may be in new places than you are used to looking or in different segments of the industry, but there will be deals.

I think the commercial real estate market is much more segmented than the residential market and has to be analyzed individually.In general, the debt problem has made underwriting harder across the board and commercial investors who opted for arms similar to residential products will have problems refinancing in the short term which will lead to defaults in the multifamily market.