While cap rates should never be more than a quick gut check, they are less applicable to residential property because the credit worthiness of tenants can vary wildly.

Check your state version of the SAFE Act, exemptions are not all the same.Just because you may be exempt does not mean proceed like a wild west show and don't document the ability to pay from any buyer.

However; understanding what drives markets, researching the historical data; and making educated assumptions based on the information isn't exactly making a wild guess and hoping for the best.

So, you fell for the old "we can make you a movie star" line, from a boys gone wild RV tour, modeling without a contract.

I have a wild dream of spec building as a long term goal.

Ok, if you want to live on the wild side, do this.

I had the wild idea of getting the variety store running, I'm not sure if I can have someone run it for me on a full-time basis and maybe SELL the business and lease out the rent to the new owner and bank the business sale proceeds...what are your thoughts?

When we discuss real estate, we both like the same neighberhood that is wildly popular, low low vacancy rate (we used to live there, these houses are like hotcakes), but they only have a 12-15% cash on cash return (after mortgage, insurance, taxes, 10% vacancy, 10% maintenance, 10% capex).

This thread took a wild turn...I find some of the sellers I speak with almost have a sense of relief when they hear I am not an agent looking for a listing.

Your best advice I believe and I would agree is to always consult an attorney when you are assessing your risk.You almost sound like an insurance agent, LOLThe only part I agree with that you mentioned is to see your attorney and that values may be different in different jurisdictions.I'd say the only ones on this site that can evaluate similar cases would be attorneys, certainly no layperson can make such an evaluation.When I had my insurance brokerage I also did finance work and estate planning with an attorney (who later became a judge) I did valuations for him for loss of work, loss of an eye, arm, leg which are pretty well statistically set, not wild determinations.As I said, costs of defense are insured, the attorney gets paid.If you are exposed to 50M in losses, insure for 60M.If you are under insured, you have a loss and your assets, like you said could be liquidated, but not all your assets, some assets are protected in BK.