These factors didn't keep me from buying though, while watching some other small markets in the region where average nightly rents were sometimes higher. 

I'm buying all cash, no loan.

Know your strategy & buying criteria, build your team, consistently analyze deals, and be patient.

I think 2024 and going into next year will represent some great MF buying opportunities.

In fact, its so competitive in trying to buy a SFR owner financed note, that most note investors have gravitated to buying non performing, under performing or re performing notes from banking institutions, or the asset disposition firms that represent them.  

Im located in Phx,Az and its common here to still see empty dirt land in prime areas of city, as an example, my father who knows next to nothing about real estate purchased a 7k sqft gated dirt land  in the city 3yrs ...

I'm looking into starting off into real estate investing with my partner and have been looking into the Milwaukee area with a buy and hold strategy in mind. 

Actually I just asked the bank what would be the rate to buy another property, they told me the rate is now 9 to 9.25% which seems outrageous.

If you buy the property and live in one side for two years you would get the full primary residence exemption on that side. 

This is the most important thing you have control over.2) Use more leverage/debt to buy real estate.