Good chance you have no idea what I'm talking about, which shows you don't have enough knowledge YET to pull that off.If you are motivated, you can make it happen!

Guess what since previous weak tenant was market rent you are losing your ***.I look at high cap stuff when it's few years left ( blend and extend ) or it can be weaker tenant at higher cap rate like 10 cap BUT I want them paying about half the going market rent for the building size or less in that market.

I admire your enthusiasm and motivation!

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Is the supply still low and demand still high with the high interest rate?

Location & Demand: Prime neighborhood with high tenant demand, no more than 2 weeks vacancy over 10 years.Strategic Positioning: Rented/sold at market's lower end with a 8-10% annual cap rate.

I do self manage my units, including my STR from out of state so it's definitely do-able.

I want to get started investing in rental properties where I live (NY) before I venture out of state but I have 2 major concerns about NY: tenant laws and high prices.

The Self-Directed Individual Retirement Account (SDIRA) isn't just a nest egg; it's your golden goose.

I figure for now I would self manage sense I've had bad experiences with PM, one, being very slow at getting things resolved and two, the contractors they usually get seem to charge the highest rates possible!