Being able to transfer a license from one property to another in residential zoning districts will be a big issue in the future and there is a cap on the number of permits allowed in specific zoning areas.

I allow a "reasonable" number of small nails for hanging art, photos, etc.

@Rick Albert hit the nail on the head with his comment.

[Source: Census Bureau]TP: This increase in MF supply should help to keep rental rate increases in check, which should also be good news for “shelter” costs and overall inflation.A 5% cap on rental rate increases?

In US MF def. cap rate is 4.5%To achieve DSCR 1.2 (best rate) with 4% cap one should give downpayment of 30-35%.

Property taxes are the final nail in the coffin.

Joe, I think you nailed this one.

Thank you @Ned Carey That's all I needed to hear to put the final nail in the coffin.

Hey particular attention to the age of the roof, the number of roofs nailed down upon other roofs.

Meetings, emails and calls followed where I tried in vain to nail down an estimate of cost.