We actually CAN'T explain what we are seeing if we are operating on the "purely rational actor" hypothesis (as you implicitly observe), we MUST include highly irrational and emotional individuals to explain what we are seeing.- Investor uncertainty.

I understand there's potential variation, but from observation, whats being observed?

, you have put me on the right track with very clear and concise observations to think about while evaluating my market.  

In my observation here in Santa Rosa, the first lots out of the gate that sold went for too high of a price. 

When it comes to these types of auctions by the sheriff, is there a waiting period that must be observed before rehabbing/renting the building post winning the bid?

McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.

Locally my observation is that the need is more for low income young and working vs college student.

I've observed that many positions in this field require proficiency in Yardi.

That time I was looking at getting 201 S Washington (a 5 unit rental) and S Washington wasn't designated as STR and Gettysburg City said that I had to go thru the process of applying for zoning licence which is followed by a hearing with the neighbors as the jury who would hand me the verdict - yes/no.I like analyzing markets and observing them for a number of months/years.

A global trade war is seen as the biggest observable risk for 2025, followed by a tech stock plunge and concerns over inflation and bond yields14.