I only know about what they are doing in Indianapolis because that is one of my markets.

I only have a single rental (at the moment) and a simple W2 job.

You can advertise historic performance.  

Like you we had 3 teams of two door knockers  2 for safety one women one man.. and we door knocked every NOD in our 2 mil MSA  all to boil it down to if we were very lucky to get 2 to 3 deals a month.. now we were a little different I only would buy very high equity deals.. and we leased back .. because as you state 99% don't want to leave.. 

Interest rates between a HEL and a refi are comparable, the equity in the property is equal to the value of the property and I only need about 50% to purchase another property.

The good news about the saturation is a lot of investors bought in the height of covid, with abnormally high performance numbers.

I have so much knowledge on start to finish process for obtaining non performing real estate and making them quality spaces for people to live in as I habe done in 4 properties over the last 10 yrs.

Predictions are for fools; numbers are for performers.

It's very important to perform your due diligence on the operators, the markets their operate it, ask for their past transactions, history of their track record.

To be brutally honest i don't care if it's at cost, below or above, I only care what it is exactly and how much.