Advani emphasizes the importance of market research, including analyzing historical data and predicting future trends, as a foundation for any investment decision.The Role of Property ManagementEffective property management is key to maintaining and increasing the value of real estate investments.

Particularly for waterfront or view rentals on oceans, lakes or rivers that historically perform best. 

Historically, we've done flips, so I typically evaluated a deal first to see if it would make a good flip, and if so, didn't even consider a buy-and-hold. 

Last month I rented a one bedroom corner unit apartment to a new tennant in a 100+ yr old historic building that really is an amazing space.  

What's more important is understand the historical parameters of each market.  

He regularly quotes an average that is several points higher than the historical average, because it fits his narrative. 

If the historical vacancy of a property is 10%, but is CURRENTLY 100% leased, then they will use a NOI based on the current situation.  

So many variables, but lets focus on one, why would you take on more risk when the bank is willing to lend to you at historically low rates (at the moment) for an extended period of time.

Buying in a carefully selected growth market where prices have historically outpaced inflation and where economic indicators are strong on the theory that you can achieve a substantial total return over time is not "speculation"; buying a run-down property in a "cheap" market where healthcare is the only growth industry because of an aging, industry-era crippled and/or opioid addicted population on the theory that monthly rents will unexplainably outpace the deteriorating housing stock certainly is.                  

Homes built in 1878 involve some unique considerations due to the age and historical value of the property.