3- Job Market Growth is still strong in ATX 4- Population growth continues although not at the same pace as the pandemic. 5- Supply side problem - Builders overbuilding creating downward pressure on housing prices. 

When supply and demand are disconnected then the market moves between top and bottom of cycles, but then equilibrium is reached.

So until supply loosens buyers will be forced to get creative and pay up.I don’t think it’s the overall crazy demand like you’ve seen in single families driving up prices- there is just literally almost zero double inventory.I did three doubles last year and still shocked I picked them up at decent prices in Lakewood.

Rental income has gone down because of supply and covid money being sapped up.   

I honestly feel like the juice is worth the squeeze in STR/MTR and may even continue this strategy as I find myself to be more adaptable and capable of performing.

That being said, I think there might be an opportunity for this program to be expanded as the the politicians seem to finally be understanding that they need to do something to fix the lack of supply of new construction homes and I'm thinking this program may end up being a part of their solution.I've tried finding some real meat/details on the program but all I can seem to find is the broad strokes at a really high level. 

WikipediaSustained and significant population growth: Prices and rents are a function of supply and demand.

Most begin by purchasing lower tier real estate because the price points align with capabilities.

For the purpose of this exercise, I would like to start by separating syndications into two categories: (1) smaller capital raises that will only attract the friends and family sized checks because they require too much brain damage for those with the larger check writing capabilities;  and (2) syndications with capital raises large enough to fit within the investment parameters of true private equity/family office check writing capabilities. 

What feedback & data can your PMC consistently supply to you?