High upfront costs and interest rates from lenders can quickly eat into profits, and funding delays can slow down projects. 

Structural and Foundation issues can really slow things down because the municipality will get involved with all their procedures and what not what it comes to those two areas. 

Unfortunately, it has also served to prop up the housing market just when it was about to slow down.Before this, the only multifamily low-down payment program available was the FHA loan, which required as little as 3.5% down.

(i do think that household formation will slow way down in the late 2030s. 

Even small, common mistakes like renting below market, picking the wrong tenants, unwilling/unable to enforce lease terms, slow turnovers, or unscrupulous contractors can cost more than a good PM will charge, and that's before you account for your time and the stress.If you have the personality, I recommend self-management for anyone who lives within 1-2 hours of their investments.

If saving more helps you put more down on the rental AND you want to buy quickly, consider that route.If you are slow playing your next purchase, maybe you go a different route.Personally, I do not mind being more liquid and collecting interest or investing in the market vs paying debt down, but that is me...

Slow & steady wealth building is sustainable wealth building.

Generally it would be "capitalized", i.e. set up for slow depreciation which does not benefit you in a 1031 scenario.

At such a low interest regime that we have now, whether you put all your pay into a re-draw facility before spending any of it, and progressively withdraw out of that, or, do what I suggested, will make a negligible difference to your payout time.In fact, my way could help your discipline, because once you make principal-only payments, you don't get to re-draw them again!

Although leasing activity is down 63% from pre-pandemic levels, the pace of new vacancies is slowing, reducing unoccupied space from 58 million to 44 million square feet over the past year.Multifamily PropertiesHigh mortgage rates have boosted demand for rental units, with net absorption up 90% year-over-year.