I think the problem your student had is that he used ChatGPT to "find a solution" and instead of finding the solution himself and using ChatGPT to help him achieve it.

I know it varies by area, but where I am many of the new homes are larger and have higher end finishes. 

If you want to do it yourself, be ready to answer text messages at 3 AM, solve problems within a 2 hour window, deal with contractors who aren’t able to “turn” a vacancy quick enough, and guests who want “instant” gratification.  

Great question - It's exciting to hear of others finding their way into real estate investment!

You're gonna pay for it, whether you do it yourself or hire a PM.

So we seemed to have hit it right on the money and haven't had any issues of note.We do things differently as we have a flat rate and do not auto adjust every day.

I am curious to know what other brokers do in this situation 

But it may not have to be as long as you think.

If ROE has dropped, can it be fixed by doing a cash-out refi.

The strategy is completely different right now if you are looking to flip verse buy for yourself.