LOL.Yes I am an appraiser which is why I chuckle with my advice.Figuring ARV is not rocket science, but it does require access to meaningful sources of data for the best results.Appraisers have access and are the best choice.Realtors have access and are the second best choice.Being your own appraiser trumps all choices.Being a good appraiser includes compiling as many sources of data as possible, this could be doing your own research, then supplementing it with an appraiser and a realtor.

there are benefits to all of these.. but I agree.. 2% return limited to no appreciation unless rents sky rocket.. why do that.

None of this stuff is rocket science and there's nothing new under the sun. 

It is only a matter of time before these prices start to sky rocket because of the demand due to the rapid development.

Home prices have sky rocketed since I was last there 5 years ago.

For one, the prices there now have sky-rocketed and in most cases are higher than they were before the 2009 crash.

With commercial loans, if you continue to move forward with your acquisitions, you can always run your numbers at a higher interest rate and see if the deal will still be a deal if rates were to sky rocket as a worst case scenario, that way you can be fully prepared at the beginning of the acquisition to understand  the potential issues down the line if it came to that.  

Albeit you really rocketed to your units.

I heard similar stories like if it's flooded twice or more than that, your flood insurance sky rocket multiple folds and coverage might be less.

It's not rocket science by any means, but you do have to be careful which routes you choose to use.