So we're in the environment of high inflation/high interest rate which means real estate investment is bit riskier until the interest rate and cap rate is normalized.

Prices have not inflated to much, however properties sell extremely fast lately. 

- Inflation can be an ally... loan costs stay the same over time as rents go up (inflation adjusted once a year or at turnover).

It just means that if you're looking to get into STR, inflated home prices make your operating expenses too high for STR to be viable.

You also have to remember that inflation will eat a little of your buying power away over 15 months.

Or can you deploy those extra payments into something else that will give a better ROI than the mortgage interest rate, plus taxes and inflation?

Using a 30-year fixed rate conventional mortgage at a time where we've seen some of the lowest rates ever is a good bet in this competitive environment, plus a great hedge against inflation! 

This is designed to curb inflation and its working. 

Currently I am based in Atlanta which has seen a dramatic rise in prices in the past year and one of the highest inflation rates in the country of 7.9%!

For others who are well capitalized and highly experienced in states where land keeps inflating (like California) there well may be a real opportunity as it would allow one to spread risk over more properties for the same amount of available capital than they could with site built housing.