This plays into the affordability issues for tenants by allowing them to live in nicer neighborhoods for less money, yet I get monthly revenue comparable to short-term rentals.

Since COVID, the demand for cash actually increased, so this is a recession resistant play.

Role-playing.     . you paid $300k 10 years ago, it’s worth $660k, (so when you sell you net $600k to make math easy.)and your cpa determined that you owned zero land, so it’s all depreciatable. you owe 15% on the $300k gain plus 25% tax on $109k depreciation recapture, so you owe $70k in federal taxes, then California reaches out for another $30k?  

Or can I get the Costco brand items?? 

And in part, it depends on the investors and capital that you have access to (this tends to play a factor in many decisions when raising outside capital).If you do want to go the fund route, you might want to consider using Avestor. 

Period.If he keeps playing games, I would a) walk away from the deal, and b) report him to the State RE Board.chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.ncleg.gov/EnactedLegislation/Statutes/PDF/BySect...

And the reason why your "tale of two halves" will play out as you described.Demand:  This has actually been high almost all along, but rent growth hasn't materialized in response due to high levels of new supply. 

If the home is 100 yrs old, I'm assuming it's a definite gut which is going to require new plumbing, electrical, heating, cosmetics.I spent about $140K reno on my multi family in the heights on NY ave and there were massive problems with it but it was a gut to 3 units & adding 2 bathrooms, 3 brand new kitchens 4 bathroom reno in total, all new flooring, sheetrock , insulation, framing, doors, electrical, plumbing, paint, parts of roof etc.

I am far from an expert in this field as I have been learning alot myself but cap rate does play a role in your type of business.

I see it as most people are so wore out from being at the parks all they that they pass out and get up early to do it again.I don't even turn on the TV when I'm there.Kids have tablets to watch their stuff and play games on.