I inherited a four plex in a rent controlled building.

I wouldn't pay a huge premium but it is worth controlling multiple properties on the same street.

It’s a large fixed expense you don’t control, and it tends to rise over time faster than rents.

Real estate and private credit markets are moving into a phase where discipline, operational control, and infrastructure are the competitive edge.

Is it reliability, quality control, pricing transparency, or responsiveness?

If Facebook is starting it then it is precisely what NOT to do.

That is precisely how it's done.

A local multifamily would be simpler, easier to control, and more predictable, but maybe slower growth. 

You can't control material costs anymore, you can't control purchase competition, and financing delays happen.

Lately I’ve been studying a trend that doesn’t get talked about enough:The investors who are scaling right now aren’t necessarily better at acquisitions… they’re better at controlling deal flow.In most markets, the MLS is saturated.