There are all types of visitors with wide ranges of budgets/desires coming into town for Derby. 

Just trying to see this from all angles.

Now the tax assessments can vary widely, I’ve seen land value as low as 3% and as high as 65%!

Check out socketsite.comLuxury condos aren't doing hot in SF and there's some examples on that site that are interesting.I think the key here is that it's specific condos some of which were likely overpaid and now we're seeing true value but it's more of unique situation then city wide trend. 

He is correct that if you choose to do so, you should do it with your eyes wide open and know the risks involved.That said and done, I never counsel clients to do things that violate their loan agreement, nor do I ever assist them in doing things that violate their loan agreements.

I also have an angle drill, but it rarely comes out to play.The rarely used stuff like a big right angle joist drill or 3" belt sander is best gotten from Harbor Freight.

Once you've beat it to death and chopped your numbers in half, then in half again, if its still a viable angle - charge ahead. 

In general, yes - an HOA has wide latitude in determining how properties are used. 

You’ll see how widely the values will differ.

It is hard because everybody wants to throw out wide nets, and there is a part investing that is about throwing out a wide net to focus on retention, but when he got tired of the stage we moved up to a whole other level.