Assuming rents are increasing at or above inflation.

Unfortunately many turnkey companies will inflate the estimated rental rate to help drive sales.

We believe we can build for 200k a unit (very inflated number, most likely lower but using a conservative estimate).

This is where the second issue comes: hyper inflated figures that come from nowhere.Now imagine that the agent knows a developer that's creating a new seaside resort in the middle of nowhere, say in Panama and gets some sort of exclusivity to sell the huge amount of condos to be built to his US clients.

On top of that, I would lower my expectations for the Ohio - this looks like a class D property to me, borderline foreclosure Seems like the PM company should be doing some annual (at minimum) inspections (and maybe they were)I mean do you really think you can purchase a duplex for 85k rent it for 1.7k/month and expect appreciation to beat inflation? 

/shrugAlso, with inflation the way it's going, it may be silly to not keep debt on the books.

They are a great place to store cash and make money long-term through forced appreciation (improvements), natural market appreciation (hedge against inflation), depreciation, loan paydown, and a little cash flow if you're lucky.

We're also able to evaluate our rates, and keep pace with inflation, on a monthly and quarterly basis because of shorter term leases.Now we syndicate larger self-storage deals and work with passive investors.

BTW, there are plenty of areas here in Atlanta that are still seeing high demand and appreciation, despite rates and inflation.

All things being equal, you need EVEN more of an income to afford the same house now because true inflation has been about 20%