I put bait stations like this: https://www.amazon.com/Mouse-Stations-Scented-Outdoor-Indoor... and fill them with bait like this: https://www.amazon.com/Tomcat-All-Weather-Bait-Chunx/dp/B000...As long as I keep the bait stations full, the mice never go inside the house.

Understand that you are no longer in traditional real estate/landlord business that you are in hospitality business weather you like it or noe even if someone else is managing the property.

But you may need to review your current holding and fill in the holes so that your ship is tight and can weather storms for you to leave a W2 long-term.The above is regardless of whether you want to do SFR, MFR, Officers, Land, development, or Shopping centers.

When trying to forecast the value of the property after the work is done, what tools/framework do you use?

I have been looking at factors that affect where I would like to live (weather, politics, taxes, night life, etc.) but I am guessing that these don't necessarily indicate a good financial investment.

However, those who can weather the storm stand to benefit from potentially lower interest rates and growing demand for rental units.Despite the challenges, there are opportunities for buyers with sufficient resources to capitalize on the market's current conditions.

@Raghavendra Kulkarni research the Port Charlotte market for economic forecasting: how many jobs are expected to be created/lost in next 3-5 years?

Cautious buyers forecast their exits with a decompressing exit cap rate because they believe that things are really good right now and to expect it will always be this good is dangerous thinking.  

With the AIrDNA data and your own data, that should give you some pretty good confidence in at least the revenue side of your spreadsheet forecast for the property.Mike

While some investors weathered these challenges better due to diversified portfolios, others, like yourself, felt the impact more acutely with single-property investments.