A 7.5% cap rate is definitely appealing, especially in today’s market.

For example 3 years ago it was maximizing returns and today it is about preservation of capital.

I’m going to talk to them today about the complaints that I am getting, but if this pursues, what exactly are my options in this situation? 

With all the resources available today to research and learn about the industry, I’m surprised this “easy money” mindset persists.To me, real estate is far from passive or simple.

I would send them notice today that explains what will happen after the current one-year term ends.

Just got second payment today! 

I know nothing is guaranteed, especially with the way real estate is today but I was only asking this question to see if my plan sounded good and if reaching out to that many people did in fact give me a really good chance at finding a deal.

But, these broad market studies are so large, they are almost meaningless, in the real world.Between glut of new supply in many "hot" markets coming online, a continually softening economic outlook, inflation over last couple years making day to day items feel cost prohibitive, many average renters are strapped and seeking lower cost housing.  

I know you're house hacking and so you'll be right there, but nothing prevents you from having a PM do the day-to-day.

Over the decades, today's interest rates are historically pretty typical.