It's a really high-energy dog and I don't think they take it out often enough, so they play indoors a lot.

I don't understand enough about it to know if them stocking up on single-family and small multi-family properties in the Denver area, at the current prices, is a good initial play that will hold up.

And we are flirting with exactly that, we see it playing out in actions.

The property owner always loses while the arbiter has no skin in the game at all, just skimming profits off of the owner and can walk away any time they want without reprocussions. 

I’ve been in the real estate investing game for over 20 years, primarily focusing on the Tampa Bay area.

Like with anywhere else: location, pricing and the overall house you intend to build will play a factor in your profits.

Preference is cash-flow, but open to appreciation/equity plays as well. 

So, you're not "wrong" in thinking it's complicated.The tax code plays heavily into how certain transactions are categorized and there is some flexibility regarding what we can capitalize versus deduct.

Like playing loud music in the middle of the night if you upset her which goes through the walls.

They are really close to where I work and it's definitely a great long term play with all the investments going on around it.