Keep running my rental business and try to anticipate/adapt to changing conditions and rules.

What should I be more careful of or change to adapt to this market vs. what I've read in books written from a while back?

Being successful in Real Estate means adapting to market conditions.

Pay attention, adapt, keep people informed and fight when necessary....and make money.

I went over to check out the situation and the leak was a quick connect adapter on the water heater.

I've thus adjusted my strategy.As they say in the Marines-Improvise, Adapt, and Overcome

Borrowing has definitely changed over the last 4 decades so you must adapt.

The ULI membership itself is steep but the classes aren't cheap either.I'm located in Boston and these two events are coming up:https://americas.uli.org/event/basic-real-estate-d...https://fall.uli.org/I'm trying to get my foot in the door of a development company so I can learn the ropes of some small/medium sized developments and adaptive reuse projects with the end goal of taking on my own projects down the road. 

If you aren't getting the returns you are accustomed to then you may need to adapt and find other sources or locations of deals.

You might want to ask him to explain the BAR rules (Betterment, Adaptation, Restoration) surrounding capitalization.Maybe you can expense it as de minimis over multiple years, but that seems like a lot of work to me (what Michael was hinting at).