"4-4-4" Morgan Stanley sees an environment in the future with 4% Fed rates, 4% inflation and 4% unemployment.....

If you can get a sense of the pressure on the market and the scarcity of the asset you are looking to acquire, you can get a sense of whether investing now, even if it's slightly inflated, will be a strong investment over time.  

Having  a month to month lease is actually a benefit to the owner as you can end leases quickly on bad tenants without having to evict them for a lease violation.I always do a rent increase yearly even if only $10, just to keep tenants used to the concept of inflation.

The cost of oil, water, and trash pickup has increased, so I increased the rent 8%, the rate of inflation, and sent a renewal notice stating the increase via certified mail with signature receipt, and they got it July1, 60 days before the end of the lease, as it states that either party must give 60 days notice.

@Quentin Thiery  another thing to think is that some agents are still stuck in last years market and last years over inflated prices.

The last few years prior to this last summer home values went up and rental owners that bought over inflated bad deals got lucky on the fed keeping rates super low. 

This metric is important since a dollar today is worth more than a dollar tomorrow due to inflation, opportunity cost, and risk.So, what is IRR?

Interest rate was inflated half a point higher than prime.

Most all pro forma you'll see advertised on their websites is inflated, misleading or both.

Since I can put bitcoin into an account and know that nobody will ever be able to inflate it away I feel more secure for my future.