Ran the full portfolio review for the middle of the year, and for the first time since before the hiking cycle started back in 2022, every single property is comfortably cash flow positive. Three rate cuts since December did what two years of rent increases alone couldn't quite finish.
Feels strange to write that sentence after two years of the opposite story dominating every one of these updates. I'm resisting the urge to relax too much about it though. Rates went up faster than almost anyone predicted starting in 2022, and I don't think there's any law of the universe saying they can't do something similarly unexpected again.
For now, though, genuinely good news. I'll take it after this long a stretch of just managing through the hard part.