The Court rejected the IRS's contention that this case was different and the rental was not a trade or business because (a) the acquisition of the property was involuntary, (b) the operation of the property was not intended to be of long duration, (c) only a small part of decedent's income was derived from the rental of real estate, and (d) the net result of the operation of the particular rental properties was a loss.• Lagreide was a case involving a net operating loss carryback and recomputation of the correct net operating loss.

If historical data has any value to you, I think you could derive a conclusion that says that price appreciation is going to continue.

Finally, since beta and Monte Carlo derive a lot of their parameters from historical data, how have you over come the black swan problem in your modeling? 

Those are the 3 ways an appraiser would derive a value estimate, applying weights to each method. 

That said, cash flow is only one of several income streams that may be derived from a buy and hold.

The base plane is derived from the spot elevations at the front setback.

Thank you in advance For good credit self employed scenarios, I'd say about 70% of the time income is derived just from the most recent filed tax year, not the most recent two years.January is right around the corner.

Buying properties dirt cheap in my away markets and doing derivative uses to maximize cash flow is the way to go!  

It is DERIVED from the value, it doesn't determine the value.

If you are local you likely have an advantage and this can help you to find good deals5) People who haven’t been through a real estate cycle and are less risk averse than others that haveAt the end of the day it is impossible to time the market, I know this because I used to trade financial derivatives for a living, I spent my life on a trading floor and I have worked with numerous hedge funds.