Purchase price: $240,000 Cash invested: $60,000 purchased this distressed duplex using owner financing for $240K and a $60K hard money loan for renovations.

With most price drops (as in "hot, don't touch")?

You are priced out of Scottsdale quite a bit, but you might find something adjacent which would provide some good opportunities. 

Depending on the price point, they may already be running targeted ads in cities/metros for buyers that may be looking for a second home/vacation home.

Price - $700kSF - 3,200Units - (4) Apartments & (1) Office

It will also allow you to focus more of your time and resources in the actual real estate vs. raising capital which usually leads to poor real estate acquisition and operational decisions because raising capital is your full time job leaving an inadequate amount of time for the real estate.OK, chasing 32unit apartments, acquisition priced between 3.2M - 4.8M.  

All look in-line with typical market pricing.

So, you can do a land contract for 12 months, which should allow lender to credit you full value of the land vs the purchase price, but the loan will pay off the land contract, so the lender maintains first lien position.Can't help you with the rest of your question, but you should be able to search for "CPA" here on BP to find experts to reach out to.

Purchase price: $490,000 This is a unique opportunity to participate as a investor in a single family residence valued at $3M and higher.

Quote from @Karolina Powell: On top of working with wholesalers, I make offers on everything on the MLS that interests me, not worrying about asking price.