I was unable to sell it to the rapidly declining market conditions in 2008.

Some of them get really mad when declined.

Most property management companies will offer to place tenants for you for half of the first month's rent, so going forward if you decide you don't want to do this yourself that is one task you can hire out.If you want to know more, this is a great article that explains how to decline an application and has a sample rejection letter:https://www.apartments.com/rental-manager/resources/screenin...

If the first person you talk to doesn't decline their request, call back later.Best of luck!

From 2008 to 2012, the major publicly traded self-storage companies - CubeSmart, Public Storage, Extra Space Storage, and Life Storage - saw a brief share price decline in 2008 before soaring the following three years.

If it is something you would buy and it just comes down to price, then yeah I would make an offer. the worst thing that can happen is the seller declines. 

A 63% decline (@charliebilello).- Bitcoin Crosses $1 Trillion Market Cap (@KobeissiLetter).Today’s Interest Rate: 7.13%(☝️ .17% from this time last week, 30-yr mortgage)Mortgage Rate UpdateMortgage rates are climbing higher again this week to 7.13%, doubling last week’s increase - up ~1/2% in just 2 weeks.

I will share my "Most Expensive Lesson" in the comments.To kick things off, here are ten examples of expensive lessons or mistakes in real estate investing:Underestimated Repairs: The classic pitfall where the cost of repairs and renovations far exceeds initial estimates, impacting the overall budget and profitability.Tax Liens: Failing to account for or being unaware of existing tax liens on a property can result in unexpected financial burdens.Contractor Liens: Not settling payments or disputes with contractors can lead to liens against your property, complicating sales or refinancing.HOA Fines: Overlooking or violating Homeowners Association (HOA) rules can lead to significant fines and headaches.Bad Loan Products: Opting for loan products without fully understanding their terms can lead to unfavorable financial conditions, such as higher interest rates or unfavorable repayment terms.Ignoring Zoning Laws: Investing in a property without a clear understanding of local zoning laws may restrict its use, affecting your investment strategy.Overpaying for a Property: Lack of research or getting caught in a bidding war can result in paying much more than the property's worth.Neglecting Due Diligence: Skipping thorough inspections and background checks can uncover unpleasant surprises after the purchase is finalized.Poor Tenant Screening: Failing to properly screen tenants can lead to unpaid rent, property damage, and costly evictions.Underestimating Market Risk: Not considering market fluctuations can lead to investments that don't pay off as expected, especially in volatile or declining markets.We've all been there in one way or another, facing setbacks that seemed daunting at the time.

We actually have the option to STR on a few of our properties and decline to do so because we make more money than an LTR on our medium-term rental with a lot less work than an STR.The pros to medium-term rentals: high occupancy rate, no local regulation issues if you are 30+ days, elevated rents, more and more people are staying longer, often the midterm rental tenant pool is professional. 

You can make money investing there, but it's a city with a declining population and a so so economy.