Morgan Stanley agrees:  https://www.morganstanley.com/spc/knowledge/managing-wealth/research/Millennials-Put-Pressure-on-Tightening-Housing-Supply.html?

This would really put a strain on your ROI after the initial excitement of having a tenant day one wears off. 

I understand the emotional strains of running a business.

That little bit can put home ownership out of reachWhile business has been brisk of late, it could slow as the fed tightens interest rates once or twice more as they have indicated.

As incomes tightened and hyper inflation kicked in tenants tried to move to cheaper alternative housing whether a house or apartment building.Those landlords that try and not push top rents too much tend to not have to do much in a correction.

I've certainly thought about the strain that it could put on our friendship.

Everything else is a strain. 

As inflation hits people in the pocketbook, they will start to tighten the purse strings.

Tighten operations and make sure your customer service is above the competition.   

All the rentals are similar and they have HOA's and each is starting to tighten the strings on these rentals.