And don't fall victim to the theory that appreciation in hot markets is infinite, it's certainly been a good run but there will be barriers and push back in the coming years.

This is truly incredible!

.:)In a hot market...like your example...if the house is listed at $200k, but sells for $230k...if you can give any sort of proof it's worth $230k to the appraiser, you could probably get it to pass. ( a good seller's agent will do this for you).For a refinance, appraisers are going to come in much more conservatively.

This could be an benefit of this current "slow down" in the market - help to level out prices a little bit - however I think summer/fall is likely to still be very hot and we won't see a correction until the next real estate market cycle. 

unemployment rate is incredible. 

I have a few ideas for how I want to build this portfolio:Short Term Rentals in a vacation hot spot, specifically Myrtle Beach, SCSingle family homes near where I live in Muskegon, MICommercial properties in West MichiganThis is a new idea for me and am looking for ideas on how to get started.

Just got this early AM email from one of them...“...Hey Pat, don’t worry Im good for the rent for many months during this hot mess.

He also locked in an incredible interest rate. 

Maybe 25% of the usual inquiry amount and I usually hold open houses, but can't do that now, so I don't know how it would have compared.I've had no problem with my usual contractors coming in to work solo to clean the carpets or get the hot water heater replace.For rent day, it was all the same.

Also if anyone wants to share any hot markets or any tips for a newbie it will be greatly appreciated!