Then the crypto crash hit, and we lost 90% of our funds.

We love investing into properties that we can hold long term and we have been fortunate enough to have great tenants through our intense vetting process that stay with us for long periods of time.

So a sponsor that's great for one investor will probably be terrible for another (and vice versa).I'm a conservative investor, so when I invest in multi-family I prefer sponsors that have at least one full real-estate cycle of experience (which sounds similar to your post), little to no money lost, low leverage, and high skin in the game.And there is an apartment operator that has multiple real estate cycles of experience (decades) with no money lost, low 65% less LTV, and high 10%+ skin in the game.They market under 506B so are prohibited from posting publicly on the Internet and instead function by referrals.

@Obed Calixte The memories that bring me joy from a career perspective are the times when I've had the good fortune of delivering an above-projection return after a successful investment round trip. 

I moved to miami and I could never do it there. look at all the economics an have conversations with leaders in every market and see what the overall feedback is but right now new construction is a premium in columbus and much better strategy than existing. when interest rates got constrained we lost 10k housing unit sales that year but new builds went up and captured more of the market. we went from 1 in 19 homes new construction to 1 in 11 and it has been that way ever since.

Have you put in offer with contingencies and lost out?

The county discovered I was renting out my home and property taxes more than doubled (lost homeowner and two other exemptions).  

Paying this out of pocket is going to hurt badly after I've already lost rent for the past 6 months plus court fees.

Fortunately, that same fear and lack of experience in these market conditions have worked in our favor over the last two recessions, which is how and where we have seen our greatest growth and success.

Regulation battles by HOAs are being lost in the courts as well.