And in an inflationary environment you want to be in durable goods with long term low interest fixed debt. 

My analogy is fishing in a now crowded 'favorite' spot.

However, given how dynamic the market is in right now, you might find a lot of variability, so someone might be willing to sell for a higher cap rate now if they think we are in/moving into a distressed higher interest rate environment.

What are your thoughts about current environment?

In an inflationary environment, we want debt. 

the political and economic environment was not in his favor then.

And if you value being professionally mobile (more common these days) you might not making it that 4-5 years.Now fast-forward to getting married, having a kid, wanting a consistent home environment to raise them in, a good neighborhood, great schools, etc. and priorities definitely shift. 

Reading the comments in this thread about Colorado Springs, it is a much different environment here in Frisco/Dillon/Silverthorne/Breck. 

You simply factor the economic environment into your business assumptions and try to keep emotion out of the decision.

These were largely sourced pre-CV19, so eat the fish and spit out the bones.The percentage range varies by lender, but expect to only be approved with a DTI ratio of 47% or less.