The STR units not only serve to push the cap rate even higher, but are nicely blended with long term leases for the remaining units which not only dramatically reduces the risk but increases cashflow.

Many of these assets are not coming available for acquisition, and a dramatic percentage have been managed to their necessity and not their potential.

That is an important legal document that can have dramatic effects on your legal position.

That dramatically changes the cash flow on a rental.

I know that's pretty far out there, and I am far from convinced it will happen in a dramatic way, but I believe it's worth considering the possibility.In the end it might come down to pest vs cholera - meaning run-away-inflation or recession induced by rising interest rates.

@Junior Francica - At 5 years old, it still has plenty of life left to not dramatically impact an appraisal or market value. 

I do recommend waiting to sell until interest rates drop; I recently sold a successful vacation rental property located in a highly-sought after beach community - and the buyer pool was dramatically different than a year ago. 

Insurance costs have gone up dramatically in many areas.  

I'm sure Wesley was hoping for a big show, but I don't have fireworks very often.Sadly, I knew there would be no dramatics because a professional housing provider just puts the smack-down on any meandering sob stories, and I knew you would not stand for that, Nathan  - but a part of me was hoping there would be additional outlandish emails from them to share.I really miss that "tenants/applicants say the dumbest things" thread. 

If you're going to be paying 10% or so, and taking the risk that the rate could rise dramatically month by month, I don't think you should be using the money for a long-term play.