Inventory is low, especially on the single family side, and competition is high in the core areas.

@Jennifer Esser, I am very curious what compelled you to write that. 

Build your core three locally: a multifamily broker who knows mom‑and‑pop sellers, a lender comfortable with small balance multifamily, and a PM with real rent rolls in your target zip codes.

Core CPI (excluding food and energy) is also near 3%, signaling consistent price pressures in housing and services.

I won't go with the riskiest opportunistic strategies, and will stick to core and core plus mostly with some value-added.

Core producer inflation barely moved.Bottom line for agents: This is the report that feeds into PCE (the Fed’s preferred inflation gauge).

From your side, it is less compelling, but still practical.

Start with a light‑to‑medium rehab you can manage, build your core four (agent, lender, GC, PM), and add a contingency line so surprises don’t sink the refi.

**OPERATING COST REALITY CHECK:**- Insurance: +29% YoY (coastal exposure + reinsurance crisis)- Maintenance: +24% (labor + materials)- Property Taxes: +22% (reassessments catching up)- Condo Fees: +45% since 2021 (SB 4-D structural compliance)**MARKET DYNAMICS:**- Luxury ($1M+): 10.2 months inventory, seeing 10% discounts- Single-family: 6.4 months, still climbing 4% annually- Condo/townhome: 12 months inventory (buyer's market forming)**CAP RATE SPREAD:**- Miami core (Brickell/Downtown): 4.7%- Suburban (Doral/Kendall/Homestead): 5.3%- 60bp spread = biggest arbitrage opportunity in years**INVESTOR BEHAVIOR SHIFT:**Seeing capital rotate from luxury spec plays → workforce housing with stable cash flow.

Build your core four now: investor-friendly agent, PM with MTR experience, two lending lanes, and a reliable handyman.