They are gambling that FHA will never check in that first year or they have the ability to refi out of it if they do. 

The old adage on BP is don't buy for appreciation that's not investing but gambling, however if you invest get good cash flow and get good appreciation its a home run. 

That is really discouraging because it puts my goal of quitting my job out even further.With the demands of 3 kids (2 in sports), 1.5 hour commute each day, and my current job, I'm having a really hard time fitting in starting a new career and business.

It's already been mentioned that it depends on the asset class which sport we go to in order to understand the park we are in.

Most likely in an expensive area like California your cost per square foot will really make this conversion worthwhile.Lastly, if you are going to take the gamble, make sure that in worst case scenario that you will at least recoup at least the same amount of money you put in, and that the house will sell faster. 

This "Buy High, Sell Higher" philosophy is risky in my opinion, but when inventory is low and capital plentiful, there are people out there ready to take the gamble. 

This is Brad from New Jersey & I'm excited to not only join but learn from the BiggerPockets community.My career has been in sports business but I have always envisioned my future as a real estate entrepreneur and now I'm finally taking that leap of faith!

The land is worth over $8M and I have signed agreements from national and regional restaurants, retailers, and sport venues to be tenants with strong financials. 

I recently heard an analyst say this about the Denver housing market: it has 10% more growth before it will catch up with other city's in the US with the same demographics (population, # of sports teams, # of colleges etc.)

Our primary focus was to make the shopping center focused on active living. to that extent, we had a gym, physical therapy and physician, a great sports grill & bar, and other companies who's business dealt with active living.