Prices might definitely correct themselves over time across the country, but I don't see any projections of them going down 30-40% anytime soon and all the projections I've seen, prices are going up.But with rents being so high, and prices still relatively low, compared to a lot of other markets in the country, my experience in this market doesn't lead me at all to believe the bottom will fall out anytime soon.If you've been in Northeast Ohio over the last 5 years you can see for yourself how much they've built up the downtown and University Circle area and literally have poured billions of dollars into it's medical infrastructure, which is one of the best in the world, creating thousands of high paying jobs and people willing to pay high rental prices.But I do agree with Nathan that it's all about having the right team and property management to be successful in this market. 

So your competition is getting larger as a landlord.Traffic and infrastructure are starting to have issues keeping up with all of the building.

Does anyone have a recommendation for a noise monitoring device?  

The towns are having to spend money on infrastructure, school, and general growth related headaches due to the population explosion.

starting bids are usually way over ARV, but you have to monitor it sometimes you can find something interesting.

But managing/monitoring a lot of them isn't that much fun in the long run.

Personally, I see value in the land since the infrastructure is already in place.

Ensure that the net operating income (NOI) meets your investment goals.Future Developments: Investigate any future developments or infrastructure projects planned for the area, as these can significantly impact property values and rental demand.Financing: If you are planning on taking out a loan to purchase a property in this area it is imperative to make sure you are getting terms that align with your investment objectives.

Here’s a detailed breakdown of these two types of markets and the factors that contribute to each:Cash Flow Market, a cash flow market is one where rental income exceeds the expenses of owning the property (mortgage, taxes, insurance, maintenance, and property management), resulting in positive monthly cash flow for the investor.Key Characteristics:High Rental Yields: Properties typically have high rental yields compared to their purchase prices.Stable or Slow Appreciation: Property values increase slowly over time, if at all.Lower Property Prices: Generally, property prices are lower, making it easier to achieve positive cash flow.Higher Rental Demand: Strong demand for rentals due to economic factors, demographics, or local employment conditions.Factors Contributing to Cash Flow Markets:Economic Stability: Stable job markets and steady local economies that support rental demand.Rental Market: High percentage of renters compared to homeowners.Affordability: Affordable property prices relative to rental income.Local Policies: Landlord-friendly laws and regulations.Appreciation Market, an appreciation market is one where property values increase significantly over time, offering substantial capital gains upon sale, but rental yields may be lower, resulting in lower monthly cash flow.Key Characteristics:High Property Value Growth: Significant annual increases in property values.Lower Rental Yields: Rental income may not cover the monthly expenses, leading to lower or even negative cash flow.Higher Property Prices: Generally higher property prices, which can make it harder to achieve positive cash flow.Strong Economic Growth: Rapid economic growth, population influx, and development.Factors Contributing to Appreciation Markets:Economic Boom: Strong local economy with job growth and high-paying industries.Population Growth: Influx of people moving to the area, increasing demand for housing.Infrastructure Development: Significant investments in infrastructure, amenities, and services.Desirability: High quality of life, good schools, and attractive neighborhoods.I hope this information finds you well. 

In all honesty, unless you or someone on your team has extensive knowledge and experience in credit, mortgage finance, secondary markets, and portfolio management, your company is probably better served by building a deep and meaningful partnership with a small local lender to handle this for you - or maybe even buy such a lender with infrastructure in place as a turnkey solution.