Because it's my money, I care more (I get 92% of the revenue, PM only 8%, and PM team member near 0%), I only had my units to manage (PM team member has other owners and units), and, with humility, I am smarter and harder working than the team members assigned to my portfolio (3rd party PM has to hire at a level that makes the business model financially work for them). 

You'll definitely get the long term appreciation in the San Diego market since our supply levels remain low which helps to insulate our market here, but it will be hard to cash flow on immediately unless you use one of the above strategies I mentioned. 

Quote from @Anthony Dupre: @Chris Seveney Would you mind sharing a high-level overview of the structure your billionaire friends have set up?

This ensures enough space for the homes, parking, and any additional amenities while maximizing land use.Project Scale: To reach an institutional-level deal, you'll typically need at least 100 units.

That helps bring back down you debt to income level.  

., and ability to verify receipts and transactions (the verification is done by upper management to check and validate the revenues and expenses)4.

This would be an area where you think the market is more likely to yield the level of investment return that you are targeting.

However, pricing in Austin is still substantially above pre-pandemic levels.

With broad, high-level criteria, you may be able to easily cross of a number of neighborhoods where the numbers simply do not make sense (assuming you already have your buy box nailed down).

Is this realtor providing you with the level of detail analytics that you need to make an informed decision?