All the factors and above and more need to be considered and compared to historic norms.

My long time friends parents owned a house here in the historic district since the 70's.

You are correct re: last 5 to 10 years but all locations have cycles and helpful to understand where in the cycle you are and just understand that if you believe you are in the later innings based on historical averages of the complete cycle does it make sense to jump in or not or find better markets in different parts of the cycle.  

Plus I'm looking at a house in historic Tavernier so I'm sure there's some complications there as well.

I find that investing in Real Estate allows my creative side to emerge, especially when structuring a contract or finding valuable resources for financing real estate properties.Currently, I am purchasing as much real estate as possible in this (historically) saturated real estate market.

Historically we have bought and held a few single family homes.

@Stephen Sawrie,In my opinion, you are 100% right about that.The way I look at it is this - say you have appreciation of 2% (our historic is about 3.5 in this area) and loan pay down of 2% (obviously changes as the loan goes along) and cash flow of about 8%. 

Unlike most organizations, I believe in keeping the historic look of the neighborhood, and revitalizing the homes, while allowing them to keep their rustic charm.According to the article the amount of sold listings has more than doubled since 2015 and home prices have increased from $113,000 to $143,000 in the last six monthsAlthough the neighborhood may not be quick returns, there is definitely long term potential in the Barrio Hollywood Neighborhood and we look forward to further investments in this community.  

The Bubble is created and when it bursts, it collapses the prices all at once, as far as Historical charts will show you.

Interest rates are historically low.