My grandmother lived there for many years when I was growing up (I always think of the massive shark head store there), but I don’t think even she would have predicted how much it would rise.

But we do have a few other things we didn't have ten years ago: A historic housing shortage caused by 15 years of under-development and driven by a demographic shift (demographic changes are as predictable as time itself), very high purchase and rental demand, and continued upward pressure on rents and prices.I agree with you that in many ways it has gotten harder to invest.

However, this comes with the risk that market conditions or interest rates could change, making refinancing or selling more challenging at that time.On the other hand, a conventional 30-year mortgage offers long-term stability and predictability.

The thing about reserves is that you can't predict when something will break so you could be way off if you do calculations on life span.

Quote from @Sam Booth: Nobody can predict the future.

It was a slow start to the initial spring 2024 shopping season, but properties are still closing quickly, still nearly 1/4+ for all cash and the majority of investors are well capitalized due to the appreciation of their real estate and stock based assets. 

I am currently surveying the NC market for a 3bd 2 ba home that is predicted to appreciate over time. 

I give a $20 gift card to the local grocery store day of move-in so tenants can stock up on a few staples or pick up something ready-to-eat from the deli.I have given wine, but you need to be careful & not assume everybody would welcome such a gift.

Are we going to see returns that look like stock market numbers for the foreseeable future. 

Partially because you did not rent it for an entire year but mostly because of upfront expenses: getting it ready for rent, buying furniture, electronics, and other furnishings, stocking up on initial supplies, and so on.