In my market, prices have skyrocketed, inventory has steeply declined, and demand has risen.

In middle of the road type areas I’m still finding 8-9% with relative ease and room for improvement. 

Possibly the newer ones have been improved, but the ones I got in 2018 have had significant problems with the planks drifting apart and spaces appear at the end of the plank in traffic areas. 2 different brands, 2 different houses. 

The often quoted cyclical nature refers to MF properties, as developers respond to demand, build inventory until there is too much etc..The residential market does no go through cycles, just google homes values over the last 60 years.

I do see a lot of inventory down there. 

As soon as you get the swing of it then improve the property's performance and sell or keep it.

You can easily see 20%+ Cash on Cash returns on the STRs but it is constant messages, turnovers, and inventory of toiletries.

With the foreclosure forbearance hopefully coming to an end soon, that will bring in a lot more inventory in the future which may make it easier for us but I think our goal is to focus on building capital.

With the foreclosure forbearance hopefully coming to an end soon, that will bring in a lot more inventory in the future which may make it easier for us but I think our goal is to focus on building capital.

This consists of the purchase price plus whatever you invest into that property over the years(capital improvements).