They are more volatile:  They increase in value percentage wise more than other classes in boom times, and decrease in value more in difficult times than other classes.I have owned four condos, two residential and two commercial, for more than 30 years and have no regrets.

A simple checkpoint I use is does the deal still hit a 1.25 DSCR at the refi under stressed rates and a higher exit cap, and is there enough reserves to survive the gap if not.Did they disclose the exact loan terms like LTV, IO period, extensions, and whether there was a rate cap in place, and what DSCR did it underwrite to at maturity day one?

It means stress is starting to show—and stress creates conversations that weren’t possible six months ago.At the same time, sellers now outnumber buyers by roughly 530,000, the largest gap ever recorded.

Paying 15–20 percent long-term capital gains with minimal effort often beats earning taxed-at-37-percent real estate income that requires time, stress, and active management.

As a conservative investor, I am personally not comfortable in investing in any of those platforms as I prefer sponsors with a lot more experience, a lot more skin in the game, better fees, a model that can be recession stress tested, etc..

Underwriting has shifted to stress-test flat rents and rising expenses, especially in markets driven by real job growth.

You're pretty thin on cash overall and you're asking for stress when something invariably breaks.

Hi Cameron, YOu can use HELOC's to acquire more rentals, but whether you should depends on how conservatively you use it.But keep in mind that HELOCs on rental properties are harder to get than on a primary residence. fewer lenders, lower LTVs, higher rates, and stricter seasoning.If you go this route, stress test for:-Variable rates-Strong cash flow coverage-A clear exit plan (HELOCs work best as short-term/bridge capital)-Portfolio-level riskUsed conservatively, HELOCs can help you scale.

It rewards creative ones:offers that address timing,offers that solve payment stress,offers that restructure debt,offers that give sellers a way out without blowing up their finances or pride.In slow markets, most buyers wait.The ones who win step forward.If you’re an investor or buyer sitting on capital, this is not the moment to be passive.

Once the property is placed in service, you're absolutely right that you'll want to find ways to increase expenses and decrease the amount you capitalize.