As STR regulations increase and housing shortages increase I don’t think waiting is the best strategy… that said, the cabin vibe may have different trends.

HI carmen I do a lot of work in Dayton  we have our own contracter there, we are  working hard to move up projects and get as many rental units on the market as possible because there is a shortage and many displaced peole.. they are going to need funds including investment funds to rebuild the city.

Since 2020 fueled by yes a real housing shortage, but als low interest rates and rampant speculators, investors priced out most normal people with a level of overpayment and risk that happens in a bubble (it’s not clear to me all these Airbnb’s were necessary good investments.)

With continued logistics problems, labor shortages and the high cost of materials, builders can't simply start building more to meet the demand.

I've heard Phoenix has a good water management system in place, but other cities across the southwest aren't planning well enough for potential water shortages in the future.

Appreciation here in Oakland happens when a tenant moves out and you get to raise the rent to market rate.It becomes a waiting game, but he will probably see ~$500/month increase re-renting it.I don't see a lot to criticize in the deal knowing the rental market, housing shortage, and difficulty adding inventory to the area.  

So the neighborhood is positive.Second, I believe there is a shortage of apartment units in Los Angeles, despite the mini-building boom. 

The market where I would build: medium size town with median home price at $331K, average rent for a fairly nice 2 bedroom apartment or duplex at around $1000, a severe rental housing shortage, and zero multi-families currently on the market for sale. 

There is NO shortage of lousy lenders out there.

San Diego suffers from a massive housing shortage (and massive is an understatement).