I have been spending a great deal of time learning, observing, and even placed my first offer on a property that penciled above the 1.0 ratio for my pre-approved DSCR loan.

Couple observations on the market.

I’m glad to be here, and I’m looking forward to learning from others while sharing what I’m seeing locally.Here are a few observations from my side:In Phoenix, the model works best where floor plans allow for simple bedroom conversions, tenant demand is strong, and zoning is not a big obstacleRents in this space have stayed solid even while the luxury rental market has softenedNationally, PadSplit recently crossed 25,000 units in 25 cities and secured $40M in Series B funding, which shows how much demand exists for workforce housingFor those of you in other markets, are you noticing similar trends with shared housing or workforce housing?

I do not invest in Detroit or know much about the market but just an observation & something that I see being done in one of the markets I am in to bypass STR bylaws. 

Having visited the city numerous times, one of the takeaways I observed were strong preservation protocols.

From what I’ve observed, many of the most successful investors tend to focus on markets near where they’re based or in areas they’re familiar with.

My personal observation from my own market is that units are taking a bit more time to rent (+20 days) than they were previously. 

Great observation.

That’s a really good observation.

There are historically some unlimited licenses that are not subject to restrictions but I've not personally observed any transfer within the past five years.