I'm curious everyone's thoughts on using IRR to evaluate deals vs some of the other calcs that are seen more often.As (new) buy and hold investors in our early 40s, my husband and I are far less concerned with what happens in the first 12 months of an investment and more concerned with the medium to long term horizon with our investments (5+ years.)

You must study and research, have a very LT time horizon and expect the unexpected.  

I've been using Horizon Properties for a few years and am very happy with them.

Invest wisely and expect to double your time horizon. 

What are the biggest challenges if any that other Lenders see on the horizon in 2023? 

Despite today's rates being higher you'd also want to consider the opportunity cost of leaving all the equity in there when opportunities are on the horizon.

Yes, the market has been rather crappy this year but I have a time horizon of about 18-24 months to save for multiple reasons so I figure it will turn out ok in terms of returns.

@Alex Skeg Many investors are looking forward to the opportunities on the horizon in terms of interest rates pulling down prices, increase in foreclosures, panic sales, etc and therefore they are looking to stack as much dry powder as they can to take advantage in the near future. 

Collin, what drop percentage in valuations do see on the horizon?  

I would add that the time horizon is equally critical.