And the reason why your "tale of two halves" will play out as you described.Demand:  This has actually been high almost all along, but rent growth hasn't materialized in response due to high levels of new supply. 

I'll be dead by the time the lease ends, so I just need to be able to depreciate it and leverage it and I think it should be pretty close to owning. 

I also understand accounting and legality may play a role.

We found a newspaper from 1889 in the house and also a dead cat. 

I’m building a tech solution that should drive more buyer leads to an agent’s pipeline. But to build this I will need access to NAR APIs. Is there any developer here who can share their experience building with the AP...

I just hope that there's a way to enforce compliance more strictly.As is, the playing field is uneven.

Cities don't play fair when they decide to go after you.One thing I would also suggest you do is look on AirBnB for the specific building you want to buy in. 

Other wise they would have bought it at the auction and would have told you they owned them so you would not waste your time and money bidding.. that's the other play these redemption buyers play.

The rooms are unfurnished and the tenants are very low-maintenance (hardly know they are there). 2+Unit Buildings here and nearby currently sell for $1.5M on average.I bought the property 16 years ago, so my mortgage rate is very low (2.2%) Even though the property is cashflow positive, my bigger play is the average 5% yearly appreciation.I'm looking for others who are interested in house-hacking in this neighborhood. 

But she takes excellent care of them (even put in a small concrete pool for them to play in during the summer:-).