Sorry to shout... but in addition to some of the comments above, I would be remiss for not mentioning that I don't see how we can avoid significant increases in inflation.
The government is printing money that it then uses to buy its debt. That is called "monetizing debt" and the only consequence is increased inflation.
For those around in the late 70's and early 80's we know what this looks like.
That is exactly the area I'm thinking of. There are lots and lots of big old houses in this area that have been converted to smallish apartments. You see them on loopnet and the MLS all the time, at outrageous prices. My sister thinks that even after the conversion to apartments, they remain status symbols. "Hey, look at this cool apartment building I own."
Few are as impressive as that building, though. I just might have to go spend a night there.
Along with the macro view, here are some potential hits in the micro zone:
Increased property taxes.
Business licensing fees for LLs.
Registration fees for rentals.
Regular inspection fees.
Insurance premium hikes for 'high risk' rentals.
Lawsuits because "we should have known" beforehand about the bad things our tenants end up doing.
Financial responsibilty for tenants' unpaid utilities.
Increased taxes on passive income.
Unfortunately, rental property owners are such easy targets for local and state governments because we're a minority vote, and we just can't move our businesses overseas.
The game changer is the internet! If you not using the internet in your real estate business then you are behind time. Learning to create wealth online and investing your earning in real estate.
Now far as the market buy all you can within the next 6 months, the rebound is coming.