That indicates to me that many peoples wages are not keeping pace with inflation.

Quote from @Abdul Odu: @Kevin Sobilo - a bit curious here... wouldn't the tax return be a lagging indicator?

They surfaced through city-level activity patterns like:Active code enforcementEscalation indicators within municipal recordsOngoing maintenance issuesWhat stood out to me is how early some of these signals appear compared to when properties eventually hit public lists.For those sourcing off-market deals in Atlanta, are you tracking municipal activity (code, complaints, escalations) as part of your lead process?

But I can't figure out how the info from Form 8824 transfers to Form 4797 (Sales of Business Property) as a deferred  (not yet taxable) gain.On Form 4797, I do not see any line whatsoever that lets you indicate a gain is DEFERRED (not currently taxable).

It is very unusual for rents to hold steady throughout the holiday months, traditionally the slowest time for the rental market.Rentals - Availability by MonthThe number of homes for rent decreased MoM, which is expected for this time of the year.Rentals - Median Time to RentMedian days to rent increased MoM, conforming to the seasonal trend.Rentals - Months of SupplyRental inventory decreased significantly MoM, now at 1.4 months, indicating a landlord’s market.Sales - Months of SupplySales inventory has ticked up MoM to just below 2.4 months, still a seller’s market.Sales - Median $/SF by MonthPrices decreased MoM, perhaps finally catching up to the holiday “slump” that did not occur during the holiday months.Why invest in Las Vegas?

What indicators are most important for rental demand (population growth, job market, crime rates, schools, etc)?

I don't see a copyright indicated on this graphic, so I'll post it here. 

All of the data on New Braunfels properties came from Mashvisor, which uses AI to generate their estimates.We were confused as to how they could provide the cap rate estimates as evidence without showing which properties they were referring to nor any of the data used to calculate the estimate.They also provided a HUGE Equity Comparison table, containing the current year's unprotested valuations for half of New Braunfels, which they apparently used to get the value for "GBA Price per Sq Ft" for the "Income Calculation Worksheet".So their "Indicated Value" was based on an inflated "GBA Price per Sq Ft" value and zeroed-out "Vacancy", "Management", and "Collection Loss" values.During the protest hearing the appraiser went through some of the data, but he constantly found and (supposedly) fixed many mistakes on-the-fly during the hearing.

Unfortunately leases do not always go to their end.Just before thanksgiving we had a tenant that indicated due to family changes and declining income that he would need to break his lease early.  

Mortgage applications and home tours are leading indicators of demand.Most concerning about the continuing plummeting demand is that it's happening alongside interest rate cuts and declining mortgage rates.