They have risen DRAMATICALLY over 2015.

The influx of people and conversions of single units to Multi units have spiked dramatically in the past three years and still happening where I can say that I see a increasingly demanding rental environment predominantly out of the Brooklyn populatIon. 3 out of my 6 units are rented to entire families who moved from betstuy exactly due to the fact (from what I was told)leases were not being renewed to tenants who had no substantial tenure their or could not afford new leases due to “upgrades“.

If you go canceling guests for ANY reason your rankings will drop dramatically.

Once they get below 650, the risk of problems increases dramatically.

Not to say real estate is quite as dramatic as consumer goods, but you see the flips that sit on the market because they are over improved and asking too much, or the design doesn't cater to the typical buyer in that neighborhood, or the flipper only handled aesthetics and didn't address major structural/mechanical needs because they didn't know those issues would kill the deal on inspection.You also have to realize that all these "strategies" have been around forever.  

Many of our clients are also transitioning to a rent-by-the-room model, which can increase cash flow dramatically. 

The whole next-day delivery, work from home, instant gratification syndrome has dramatically changed the standard for this asset type.

Another point that no one has brought up is that you can quit your job a lot faster with arbitrage units - this is a big motivation for me as I actively dislike my current day job.Buying for appreciation could be a longer term play, but it’s not going to help you dramatically change  your employment situation in a short period of time.I would also like to add that I am pursuing arbitrage units in an area where single family homes can cost as much as 3 million dollars.

Often times this dramatically reduces the issue with build time, as they are already under construction.

This is an exceptional market that is growing dramatically.