@Jim Hiler  I don't do ultra high end.. but I do some mid rise stuff and I did do one  5,000,000 dollar spec successfully.And I am a RE broker. 

My market, Northern CO, is ultra super red hot.

When I read his report I saw he was using an ultra-conservative cap rate of 12.2%! 

Lots of mistakes on Zillow and besides, those ultra low prices mean nothing....could be family transactions or a host of other things.

Any feedback helpful;  shadowing a closing process would be ultra-helpful.  

I also worried about grip strip seams in bathrooms because they are touted as water resilient, not waterproof.We then decided to try Traffic Master Allure Ultra Resilient Vinyl Planks, click together type, in two kitchens and one laundry room.

Over the years we have bought 100s of rental properties for clients in SE Michigan - as I'm sure you know it's a really tough area to operate and you really got to be ultra selective, and management has been an ongoing issue too.

The three day workshop is this weekend.Since the seminar I have been all over the Kansas City Metro looking for the right house to flip and being my first one I have been ultra cautious.  

My niche is working with high net worth to ultra high net worth investors one on one for retail and multifamily .

Taking a bunch of money and then when owner defaults taking it back and reselling again.The downside is you have to get sales up again and do repairs etc.In that case I look for owners who are retiring or have mismanaged a place and you can pick up ultra cheap.One of the better ones is you will see an owner that opened up and did a IRA down payment  250k build out for a franchise that nets them 50k a year.