If it is a cheaper property ADR I think it is less important and only really recommend it for luxury/high end properties.

The third one would be that most new MF builds are now being built with luxury finish outs because they have identified the trend that renters are now renting by choice, not because they can't afford to purchase a home.

@Don Konipol You've chimed in on so... many conversations for me @Will Barnard on the southern California market, and luxury flips I've learned a lot from you!

Once I get a yes from the Seller, I then prepare the contacts in the luxury of my own home (where i can make all the mistakes I want and correct them before anyone judges me).

We live in a 3/2.5 luxury townhome in W Seattle right now and just bought another home with a ready to go ADU in W Seattle (under list price) with traditional financing.

I am a real estate agent in Ibiza and i sale luxury Properties from 1 Million to 30 Million. 

You have to target a list that hasn't had this luxury of choice, this will make the acquisition part easier.

You can see these fundamentals reflected in the crazy rent growth we've seen over the last 5 years.Developers are putting in thousands of new units, but because ground up construction is so expensive, they all end up as "luxury" rentals which many folks are priced out of.Regarding foreclosures - as a % of overall sales we are at a historical low, but who knows when that will turn around.

Not to mention it led me to put a 330 high-end, luxury deal together.  

If it's a super luxury property, then maybe.