Real estate is pretty uniquely insulated from the fluctuations of the market at-large, so investing in other things comes with greater inherent risks, of course (plus you can re-fi out and re-invest depending on the circumstances).

If there is fluctuation in the real estate market, all of your equity can be wiped out very quickly.

Vaulted with David McAlvany was interesting as a gold investor as a hedge against market fluctuations.

Just some data I crunched recently to get an idea of the seasonal price fluctuations:

I beleive they are from the wood in the rafters shifting a little with temp fluctuations over the last 60 years.

As long as the cash flow exceeds all expenses by a healthy margin and increases over time, do you really care that much about price fluctuation?

Costs fluctuate like the stock market so some of the guides / tools out there are using pre-pandemic values which will sink you in a heartbeat.Have you looked in local REIGs to see if you can find a local flipper or contractor that you could shadow on a few walk throughs? 

.- Buyers: Pay close attention to wildly fluctuating mortgage rates, evaluate multiple financing options, and listen to your lender's advice on timing.

My focus is stable income, without having to constantly switch "jobs" or careers due to market fluctuations, and I think LL is one of those few ways to bad times, assuming you are realistic about all costs - upfront and deferred (such as cap ex and vacancy).  

Regardless of where the real estate is located, percentage may fluctuate a little, but in then there is always only 100% of the income to work from.That is particularly important when you are considering seasonal properties.