Slightly under market with strong tenants usually wins over time.Cash flow being the foundation makes sense, especially for staying solvent through cycles.

Cash flow is what keeps you in the game long enough to experience any upside.Speculation is optional, staying solvent is not.

The business has to be solvent. 

Short-term rentals can be great, but they require more active management and regulations vary by market, so I usually suggest layering those in later once you have steady long-term income.The key is to grow in a way that keeps you comfortable and solvent while still moving toward your bigger 3–5 year goal.If you’re looking at the Indianapolis area, I work locally as boots-on-the-ground project management, helping out-of-state investors oversee rehabs, contractors, and timelines.

They don’t need to fight over crumbs, they now have a solvent owner who can be held accountable.It’s important to clarify that in Florida, HOAs are considered “super liens”, meaning they have special legal treatment.

They float until they find an out of the way place to land and surprise you by showing up where you don't expect them.Oils, solvents and chemicals get into the standing water from over flowed barrels and tanks.Standing water brings mosquitoes, never a welcome group.Be careful out there. 

That's what I would do anyway Cashflow is essential - that is the life of the business unless you are a multimillionaire and can remain solvent until you get the appreciation you estimated and sell for a profit.

"The market can remain irrational longer than you can remain solvent."

You want to make sure they are at or below 5% to make sure they are able to stay solvent.

The important part about cash flow is that you stay solvent; bring in enough to pay your bills and a little extra for a rainy day.