If you have a newer home that rarely requires maintenance, a markup fee and low management fees may be the way to go.

Rarely do they like such units being operated in such way.

You drop them off to the court clerk, pay the court fees, and in about 4 - 6 weeks, the sheriff calls you and says, "Today's the day to change the locks."

Pittsburgh ranks #5 on Marcus & Millichap’s list of high-yield multifamily markets.Pittsburgh’s unemployment rate (4.7%) has dropped by 17.5% over the past 5 years.Pittsburgh is experiencing a demographic shift.

Quote from @Kody Smith: without getting too deep into my finances, what my strategy is...1. take loans to buy properties (leverage)2. fix/flip for day to day cash flow income3. use some of the fix/flip income to buy consistent cash flow through:- business acquisition, - commercial properties (MF and store fronts),I have no intention of doing ALL of the management myself, I will hire management as needed (medium term goal)my expected core role is money provider, evaluating the numbers, making decisions, and connecting with investors, wholesalers, lenders, contractors, and property owners.while I am just on step 2 of the journey, I am looking toward step 3 to stabilize, and not worry about if house prices drop mid project or not (or not worry as much) So to be fair this is more about obtaining and growing a real estate business not simply buying rentals for cashflow.

Quote from @Chris Seveney: Quote from @Devin James: In 2021, we saw buyers upgrading to larger homes, taking advantage of 3% interest rates to afford an extra 300+ square feet.Today, smaller homes are selling much faster as higher rates make additional square footage less affordable.While rates are historically average, I don’t see them dropping significantly.

Mark, yes as soon as April came, i noticed a 20-25% drop in bookings.

In my opinion, even if you partner with a local PM company or turnkey operator your returns will drop significantly.

A lot of Californians moved to AZ and TX, but as significant as the numbers are it's only a drop out of a very large bucket.

So the risk is lower, as long as the market doesn't drop 20% and stay that low for the next 3 years.