Here are a few additional ideas that have worked for me and others in competitive markets like Austin:Off-Market Leads from Contractors: I had a friend who rehabbed a house in North Austin last year.

I'd go on ABnB and see what your competition is doing that you can copy.Maybe a Firepit out front (as long as it's not a fire hazard), maybe a cornhole set?

It's usually better to earn $200 less a month for one year than to sit vacant for two months, particularly in the winter.Consider a bigger drop for a 6-month lease to get through winter, then increase rent or find a new renter in the spring when competition is hotter.

Setting higher rates than the comps can definitely help attract guests who value quality, but it’s important to stay competitive within your market.

So, scope out the competition on #1 & #2 above to understand what the rental or sale market expects.- You will lose money if you go overboard!

The Shadow Ln property presented a high-demand location and a competitive purchase price.

However, be prepared for limited inventory, higher competition, and possible compromises.

Assuming the Oakland rental market continues to remain stagnant/competitive with newer buildings going up, is property appreciation the only way to increasing wealth with my building?

The downside is that everyone does it and unless you have something quite unique, you will deal with lots of competition and seasonality.

You're free to wait 30+ years for them to die and hope their offspring feel different but global warming is quickly turning that desert into mars, so good luck getting anybody to move there.