**OPERATING COST REALITY CHECK:**- Insurance: +29% YoY (coastal exposure + reinsurance crisis)- Maintenance: +24% (labor + materials)- Property Taxes: +22% (reassessments catching up)- Condo Fees: +45% since 2021 (SB 4-D structural compliance)**MARKET DYNAMICS:**- Luxury ($1M+): 10.2 months inventory, seeing 10% discounts- Single-family: 6.4 months, still climbing 4% annually- Condo/townhome: 12 months inventory (buyer's market forming)**CAP RATE SPREAD:**- Miami core (Brickell/Downtown): 4.7%- Suburban (Doral/Kendall/Homestead): 5.3%- 60bp spread = biggest arbitrage opportunity in years**INVESTOR BEHAVIOR SHIFT:**Seeing capital rotate from luxury spec plays → workforce housing with stable cash flow.

Since I know a lot of folks here invest in South Florida, thought I'd share the key findings:📊 Key Data:- Luxury inventory at 10.2 months (discounts averaging 10%)- Operating costs up significantly: Insurance +29%, Maintenance +24%- Cap rate spread: 4.7% (Brickell) vs 5.3% (Kendall/Doral)- Condo fees up 45% since SB 4-D passedFull report with neighborhood breakdowns: https://thsld.com/miami-property-management-trends-2026What are you seeing in your markets?

Quote from @Maya Jones: This type of thing is like trash companies, you will hear it right away from your tenants if their car is blocked in by snow.

A side item you didn't touch on Chase is the coming extinction level event for Property Management Companies. ai is coming to eat their lunch.

Could you please recommend a company to take a look at it?

Denver is a great market and there are also several great PM companies here, just sayin! 

There are a lot of things that need to address for a PM company between compliance with the state, local rent control in a lot of your area you'll be covering, a lot of competition that is in your area, marketing/ads, and so much more. 

Charlotte > Houston and PhiladelphiaA lot of fortune 500 companies are building new offices in Charlotte.Weather is greatThe state tax rate is decreasing(and overall considered low)The city has a high end airportCharlotte, in my opinion, has the opportunity to be a large city(maybe not on the level of NYC, LA, San Francisco) but just a level below.

Quote from @Michael Smythe: @Alexander StevensWe’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.

They are only a small portion of the available inventory in these cities.As for arbitrage being dead or dying off I doubt it.