Everything in life changes and I'd expand your sentiment to "nothing stays good forever".

It’s not always as simple as "just sell," especially when there's deep sentimental value or when buying elsewhere costs just as much.We absolutely need to evolve with the times, but ideally we do so with policies that don’t punish stability, community roots, or thoughtful planning.

I agree with the sentiment to not be in a rush for the refi - with the economy facing numerous headwinds, I think there will be opportunities in the future. 

Would love any insight on:Neighborhoods to keep an eye on (or avoid)How the STR market is performingAny local quirks, regulations, or things to considerGeneral investor sentiment on Erie right nowIf you're local or actively investing there, I’d really really appreciate any tips or would love to connect.

@Ken M. 7% tax on capital gains doesn't apply to real estate, but yes I understand the sentiment.

Definitely ebbs and flows depending on buyer/investor sentiment.

What I take issue with is an GP manipulating ( talking general not this specific thread) debt and then setting best cap super low cap exit range that might be reasonable for a limited period of time if everything goes close to perfect.You have debt and investor sentiment change with economic times and boom that plan is out the window.What likely happened is when rates were low everyone was chasing capital from LP's to leverage and raise less equity per deal.

More than 5 years ago the common sentiment on this site is cash flow is king and appreciation was icing on the cake.  

Investors positioning now, while sentiment remains cautious, are setting themselves up for the next expansionary phase.A few key takeaways for investors right now:Focus on supply-constrained markets: Secondary cities with positive net migration and healthy job growth offer the best setup.Prioritize affordability: Class B and C properties remain where the broadest, most resilient tenant base sits.Plan for longer holding periods: Given the construction slowdown, cash-flow stability will matter even more before appreciation kicks in later.Stay close to the data: Tracking starts, occupancy, and rent growth rates will be critical over the next 18 months.Want to hear more about the markets and opportunities we’re focused on right now?

My view is the enforcementvaried on their sentiment of the local residents.