I am a Realtor in Madison, WI and so far as stated earlier, other than an offer of compensation no longer being listed in the MLS, not a lot has changed as far as sellers typically being agreeable to pay buyers agents at closing a buyer agency commission, and sellers just viewing that as a closing cost and focus on reaching a net proceed number they are happy with (if competing, one buyer may ask you to pay their buyer agent fee, but at a higher price where you could still net more than a lower priced Offer). 

Multiply that by 52 and divide by 12 and it may sound uncompetitively high to you to compete against a studio?

@Kiki Helland Detroit has been the most difficult city to find competent management.

@Mark Torrefiel how much research have you done on competing rental listings?

Map courtesy of https://www.submarinecablemap.com/landing-point/hillsboro-or...According to the Hillsboro Herald:Hillsboro’s Data Center Market Booms in 2023Hillsboro’s data center market experienced explosive growth in 2023, solidifying its position as a major player in the U.S.

What is table stakes amenities wise to compete with them?

Some investors I talked to are doing MTRs and STRs (this seems challenging with competing with all the other AirBnbs in CA), some are trying to do a Joint Venture and buy multi-family. 

Great area, rents are decent, but I expect the amenities they can offer will make a small building tough to compete.   

Some investors thrive in this type of market knowing they will have strong equity growth as regulation tends to lead to fewer players, fewer available rentals and therefore higher prices (rents and property value).

There is much more competition for the smaller homes as hotels, condotels, condos, townhomes and small single family are all competing for the same guests.