Ding! I like what you wrote....

even though I can see signs of improvement in the rental market, I believe we still in a downward trend in RE investment.

I think smaller investors begin to feel the pressure, I had at least 3 small landlords approach me about selling their portfolio, they hold between 2 to 13 units, last 18 month has been blood shed to some of them.

the worst month I had was 12% vacancy, still out perform many apartment complexes that still suffer 20-30% vacancy rate, but every unit that sits empty, is money lost that I can not recover from.