I am not sure that I agree that depreciation tax shield is creative math.It's a derivative, and as such, it's not a part of the basic cashflow equation.That's not to say you can't add it in.

In addition, James Hoffman pleaded guilty to one count of engaging in a monetary transaction in criminally derived property.

., the first derivative would be higher).

@Josh Collins It is always ideal to get a property with some upside whether it is the ability to improve the property and increase rents or a property in a high demand area that might have a good chance of appreciation.The value of 5+ property is derived by the income it generates where as the value of 1-4 depends on the sales comparison market value. 

But, there is perhaps a great deal of difference between both of those and the single family home. the striking difference between MF and SF is MF is buying and selling cap rate, while cap rate is derivative of rent index.SF is different animal, which is valued based on supply/demand metrics and not rental.SF is almost always perform better because of these supply/demand valuation metrices.

They were either (1) sophisticated enough to enter into a derivative interest rate swap transaction with us to hedge the risk (swap the fixed payments back to variable LIBOR); or (2), we liquidated their collateral when the bank eventually failed.  

Asia, it’s pretty black and white.Owner occupied units need a Homeowners PolicyNon-owner occuied properties/units need some derivative of a landlord policy/rental dwelling policyThe bank needs thier loan to be secured with Property coverage.  

Remember, they fell for the 'houses only go up' argument and sold all that insurance on mortgage derivatives :)

However, the vacations I took with using them, and the benefits derived (health, relaxation, family time, etc...) has made my REI better.  

I am a finance/MBA guy,I have a nice RE portfolio and I have a nice stock market portfolio.I have been returning 36% a year in the stock market and already up that for 2014 YTD.I am an outlier since I do not trade direct stock but I trade and understand complex derivatives.