If you have property in MO, I'd focus on building long term, trusting relationships there with professionals who have your best interest in mind so that when you do have an issue, they'll jump in and make it disappear so you can sleep at night.Sorry you are dealing with this- it's stressful and frustrating for sure, been there many times.

If your focus is long-term appreciation, then low cash-on-cash can still work — but only if:• Your financing terms are aligned with long-term hold• Your reserves are strong• The rent growth assumptions are realistic• You’re not overpaying based on hypeMany newer investors lose margin not because of the market, but because capital structure doesn’t match timeline.Since you’re building, I’d recommend analyzing:• Debt structure (rate, term, flexibility)• Exit options in 5–10 years• Local rent-to-price ratio trends (not just appreciation data)• Job pipeline sustainability (Redstone Arsenal, tech expansion, etc.)If you’d like, I’d be happy to walk through a sample deal structure with you and stress test it for long-term hold.Smart investors plan funding before scaling.

If selling simplifies things and reduces stress while setting you up better for the next property, that can be a rational move too. 

It is a lot easier said than done, but it's better to avoid the stress and cut your losses early on.

Which lines up well with the Dion McNeeley philosophy you mentioned.If you’re open to it, I’d suggest:Comparing one Chicago deal vs one new-market deal side by sideUnderwriting both with the same conservative assumptionsLetting the math (and stress level) make the decision for youHappy to connect if Memphis ever moves onto your shortlist or if you just want a sanity check on assumptions.

It would depend on your market but what I have seen is new construction was going up every phase but now has leveled off or decreased.  

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.

Near‑miss that taught you something—overly optimistic ARV, rate stress, or hidden rehab?

The key is shifting from reacting month-to-month to having a clear plan for how the property supports, rather than stresses, your finances.

Growth funded by hope usually shows up as stress six months later.• Systems before scale.