If none of this sounds appealing then you also  could look in Brooklyn, where rates are going to follow the trends on long island.

If you have a realtor or contractor on board whom you trust, I highly recommend asking for their advice about market trends, and trusting their advice when determining the items on your list of renovations!

It sounds like you’ve done your research on evaluating the value of your property but if you’d like, I’d be happy to chat with you to discuss the current trends of the local market here in Sarasota and provide you with a price evaluation.  

I know lots are doing it to get in edge in/be more attractive to sellers in 'hot' markets (thats why I did it anyways) but I am hoping this isnt a trend that continues.

The rent growth reported checks out; we're seeing similar stats across a lot of the major secondary markets.The impact that COVID has had in pushing primary market residents (NYC, LA), especially young people, to the next tier gateway cities (Atlanta, Charlotte, Austin, etc.) can't be understated, as the urbanization trend continues but folks are having harder times justifying pandemic NYC, so instead they're competing on a fixed number of in these gateway cities.

.- Knowing our market trends, as well as the area cap rate, rental rates, absorption rate, and operating expenses, makes underwriting more efficient.- With the right system and the right team on the ground, we have added this strategy of buying 2–20 units (mostly vacant), fully rehabbing, renting, and selling as one of our primary niches for 2021.- Relatively smaller deals can be done in a shorter period and can produce great profits for both investors and us.

Pros of turnkey: - up to date with current design trends (comparable to apartment new builds)- easier to rent out and attracts more potential tenants- no work necessary AKA less time lost with rehab workCons of turnkey- may require some "breaking in". you might need to bring in contractors to fix things here & there- you don't know what's under the beautiful face of the property. flips can sometimes have terrible bones- quality of craftsmanship is subparMy first house hack needed a ton of work.

This includes comp analysis, identifying overall market trends, and much more.

Is it a temporary dip or long-term trend?

LOL - Though I am soaking up these vocabulary terms, keywords and codes, I've noticed a trend: there are very few things in these books that will actually help me learn to be a real estate agent in real life.