No one has a crystal ball when it comes to rates, an ARM is a risk.

The agenda is now available, so you can check out key sessions, workshops, and networking opportunities happening October 5-7 at Caesars Palace.Keynote Speakers Include:Chris Voss: Learn FBI negotiation tactics to close deals like a pro.Dave Meyer: Expert in housing market analysis and investment strategyDion McNeeley: A financial freedom legend who turned adversity into success.Event Details:  📅 Dates: October 5-7, 2025 📍 Venue: Caesars Palace, Las VegasVisit biggerpockets.com/conference to register today.Let’s make 2025 the year we rewrite the rules of real estate investing—together!

This is my understanding as well  As I responded to @Ashish Acharya, I'd be interested in where you're reading the regs differently.BTW I acknowledge this will be crystal clear if we get another revision of the 168(k) regs for the OBBB that updates the example from the two earlier regs.Okay I think I did scramble the rules and describe the opportunity too broadly.

I did a test asking agents on Zillow one simple question:"Morning ​C​rystal!

Quote from @Jennie Ballard: Quote from @Crystal Smith: the small negative cash flow may actually turn out to be positive when it comes to reducing your personal income tax. 

From what I’ve seen, the biggest win early on is getting crystal clear on your goal: are you chasing steady cash flow, long-term appreciation, or a mix?

With a partnership, make sure the ownership split and responsibilities are crystal clear in writing, even if you’re friends.2.

Everything else can be handled after everyone’s safe.”It keeps things crystal clear for them and saves you from 2 a.m. calls about burnt-out lightbulbs; @Mei Zhu I really hope this helps you I sent you a DM on BP and hope you are able to help. 

My crystal ball operates poorly lol.I do remember after the great stagflation, the great moderation insued, but history doesn't always repeat exactly.

Then update your leases going forward so it’s crystal clear.Best to nip it early before it becomes a bigger tenant conflict.