Here is a great example why.I recently saw this asset come across my desk which was a non performing loan where the seller was a year behind (they made one payment I believe - even though they were allegedly properly underwritten).

First CommonwealthGreat Lakes Credit Union Veritex , Texas HELOCHSBC 70%, for premier clients only Huntington 75% LTV Hurst Lending and Insurance Investment property HELOC in Texas.

Just because there are testimonials and allegedly real people flooding this forum does not mean it is real, good or bad.

Hello, would a multifamily property of 4 or more units in Stateline Nevada near Lake Tahoe be a good place to invest or is it too seasonal there?  

I already have the Lake House and the mountain cabin. 

We were staying on the University campus and there was only one bar within walking distanceYou should move the family to Toledo If I did that I would just buy a big boat and live on the lake

That happens to be true, but the real problem is that it introduces artificial inefficiencies in the market that end up severely harming the people that it's allegedly supposed to help.

People are here for the lake and bike trail.When you are in a less than optimal area, then upgrading the interior makes a bit more sense.

As much as I wanted to make something in Texas work, there was just too much demand from 2nd home buyers that drove up prices to a point where investment returns, even in 2021-2022, were tight (vacation home buyers that didn't care about the investment return and just wanted a beach/lake/hill country home for personal use). 

And then you have the park fees of 6k per house and in many areas schools fees  right now in the city I live in lake Oswego Oregon full hook up fees for a new build will run 60 to 80k per house.. thats before you pay 500k for the lot and then go vertical therefore .. there is NO new construction below 2 million ..