The first tier receives a 25% reduction on their assessed value and the second tier earns a 35% reduction in their assessed value. 

Risks such as non-payment, general vacancy, theft, drugs, vandalism, lease-up duration, as well as market risks such as price reductions or falling rents. 

You want to be sure you will break even in the case of a significant reduction in rental rates.

If you owe $30k, then in 10 months you will have your PI back in your pocket each month which may also coincide with a reduction in the fed rates. 

Less competition, Sellers are becoming more open to concessions (just got a price reduction of $91K for one of my investor clients) and as mentioned before, if and when rates drop, FOMO will likely kick in, and while everyone else is scrambling to buy, you can to bank on the appreciation and just refinance.I also don't think some people strategize well.

Ask for a price reduction, if no luck.

I had a recent seller who agreed to reductions only if they closed by a certain date, and any delay was a $1,000 reduction of closing cost assistance per day. 

UBS yesterday released their prediction that the economy will enter a mild recession, unemployment will increase by 1% and this will cause the FED to move quickly around March 2024 to cut rates to prop up the economy....

I would probably just consider it a value add and leave the value added in the property until a point in the future that appreciation or rate reduction (or combination of the two) justifies a refinance.  

Buyers agents probably not going anywhere soon, selling agents will see reduction in commission though.