I'm curious where rents go to with the inflation that we're seeing. 

I understand that pro forma data can be inflated to make the property look like it is receiving more income at 100% occupancy.

If they are inflating their expenses or deflating their income when reporting to the IRS, you may be able to use that to your advantage to drive down the sale price. 

There are a lot of questions to ask, and I'm sure most of the BP community answered them, but be forewarned that just because people are priced out, and demand for rentals will go up, consider that inflation is on the rise according to shadow stats it's well above 15% (I know BLS says it's at 8.5% but, it doesn't account for a lot of factors like they did in the 70s & 80s) and with that said expenses will rise too so make sure you account that in your underwriting. 

Homes were selling 9% over the asking price, on average.Despite rate hikes, inflation continued to rise forcing the FED to take a more aggressive approach.

R.E. is "the" hedge against inflation, so it's a simple risk-analysis of 1 vs the other.

Cut your losses, update the unit to get top market rent, screen prospective tenants hard, move on.Unfortunately, from what he tells me, it is because of inflation.

Leverage, tax advantages, benefited by inflation, able to build wealth through someone else paying that debt back, return on investment is greater than interest rate paid on debt servicing, ability to procure, and 234 other reasons. 

All white with one sheen is one thing, all white with doors and trims in semi gloss, walls in low sheen and ceilings in flat is still 3 paint colors as the sheen is different for each area.

He also invests a lot of money in Gold, which doesn't produce an income and has a very low ROI historically tracks inflation.