It would be interest to look at prices in many of the hot secondary and tertiary markets, where I think you can often get more bang for your buck. 

It's easy to find a hot market.

Definitely very hot markets

Really hot markets like Atlanta might still have some runway left before prices flatline or drop a bit but I would be careful of flipping in less hot markets right now.

After making what seemed to be an endless amount of offers in this hot market, with a lucky turn of events of a sellers contact falling through due to the first place buyer unable to to afford financing.

What about salt, pepper, hot sauce, other long life or nonperishable condiments?

It's not even hot here and it gets chilly at night. 

The extra rent they bring you will be 3x that, and they will do all the work while keeping you out of legal hot water.

Buying into negative cash flow in hot markets is fine, but I think it's safer for house hackers and not for investors.

I have an old house on an exceptional lot (great street and mountain views, larger lot for area) in an area of SE Denver in which new houses can sell for more than 3M. I could probably sell for 850-900k), but realize ...