Seems that way in the business of Land Flipping...which is a red flag in my eyes...maybe it's not a part of the real estate sector I need to get into. 

I don't think they make two prong plugs anymore for the wall so replacing the old worn out ones with three prong ones seems like being a between a rock and a hard place- what's the owner to do if upgrading the electric is not affordable.

.$424,000-1.4%2.5%28.5%52.9%Austin-Round Rock-Georgetown, Texas$565,000-3.1%0.2%52.3%64.7%Baltimore-Columbia-Towson, Md.$360,0002.8%2.1%6.5%24.8%Birmingham-Hoover, Ala.$300,0001.2%2.3%13.2%26.4%Boston-Cambridge-Newton, Mass.

Places like Memphis, Little Rock, TX, Oklahoma or even Alabama. 

Great post - I have several inquiries for clients with the desire to own coastal STR's and just noticed the red tape is suffocating when I would dive into listed opportunities and feasibility with the municipalities. 

Quote from @George Red: I echo what @Jon K. said... if you're still interested after doing some additional due diligence, try starting with 1-3 as opposed to jumping into 10.

Many years ago, we had NPLs in NY and the bureacracy and red tape was staggering.

It's important to understand their reputation in the industry and the market, as well as any potential risks or red flags.Knowing your client's objective is also crucial.

In fact, Houston and Little Rock, AR were the only two major cities where multifamily was in a recovery stage.So what are the market cycles, and what do they mean?

Often I see only sheet rock above them.