For a short time some lenders decided they didn't want to be responsible for escrow and I don't think that lasted very long. 

On top of that, we have super tough STR regulations with waiting lists and high competition from years of established vacation rentals with long lists of repeat clients.

Unusual that it has been stagnant in growth over last few years, maybe check your holdings?

It won't stay that way forever, so enjoy it while it lasts

See below for some of our thoughts:Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

I currently have a 7% cap rate living in one of the 3 units, that'll jump to 18% when I move out to purchase another.Housing prices have been low and stable for the last 20 years and I don't expect it to increase anytime soon. 2 out of Rutland counties 4 colleges closed down last year for lack of attendance (before COVID-19).

Brookhaven has a long history of corruption and now wishes to limit property rights of landlords and residents.

Been living in CA for the last 15yrs and actively looking to invest in multi family properties in both those towns.

In the last month we have rented 5 of these.  

@Richard Helppie-Schmieder Great thread, thanks for sharing Richard.I’m not a flipper myself, but as a broker and multifamily investor here in Honolulu, I’ve seen a few things that help operators scale beyond the one-off projects:Pre-negotiated contractor pricing for common items = predictable margins and faster timelines.Standardized design packages (2–3 finish sets) = bulk ordering + a recognizable “brand.”Exit flexibility (flip or rental refi) keeps deals profitable when the market shifts.Capital efficiency: some pool private equity into small funds or short-term syndications, similar to what we do in multifamily, so they’re not scrambling deal by deal.Interesting to see how these same principles apply whether it’s flips in Texas or apartments in Hawaii.Quick question: do your project managers just keep eyes on site, or do you give them budget/schedule authority too?