The rate is competitive over the time period of repayment, yes.Remember, the problem we're supposedly mitigating here is a short-term cash crunch.I stand by my position that this is a decision personal to each investor and that there are valid reasons why an investor might prefer to build equity rather than maximize cash flow.My observation is that those who are chest-thumpers about cash flow being all that matters and leverage being a miracle tend to have certain characteristics.

I am not saying people do not make money in stocks I just see those more of a gamble.

Only hold onto it long enough to break even and then sell.Even holding onto a property until the market recovers is a gamble in profits vs. loss.

For now think of investing dollars instead of exchanging dollars as a gamble -- the first factor.The second factor is that when a nation's currency becomes worth less, the value of the goods and services of that nation start becoming a lot cheaper to a foreign buyer.

To bet on appreciation is more closely akin to gambling than investing in my mind.

The thing about appreciation is that it's not as much of a sure thing as cash flow so it is more of a gamble.

Send them a letter.If it cost you $1/ea letter then it is worth the gamble to see if they are motivated!

It is a way to make equity take on more characteristics of debt.

What I can tell you is overall it is a solid market both by characteristics that are important to me in evaluating markets (strong economic growith / momentum for the city, diversity of business, high amount of renters, low property taxes compared to purchase price, solid neighborhoods with tenant quality etc) as well as it is a market that I believe over time the long term will have small but steady price appreciation.  

Vegas has potential for more appreciation but I just can't get over the feeling that investing in Vegas right now for appreciation is kind of like gambling, the markets swings.