If you get greedy and put #3 in front of #1 or #2 you can get burned like any other market. 

These fires are so hot even the steel structures melted and burned. 

A lot depends on your entry price and instant equity. 

We talked about an aggressive paydown at a rate of $5k for the next 6 months to make the deal sweeter for the next person, but renting it would be preferable to that I believe since I can get a higher return on smaller development projects at a burn rate like that. 

I've seen many investors get burned because they failed to understand their hard money loan terms/rates, even if they did acquire what should have been a home run deal. 

Almost an impossible way to “get started” as you’re going to need full purchase price in cash on hand or a HML willing to instantly fund you. 

I assume a higher upfront cost as far as land purchase and the actual build but you would have a brand new house, instant equity and hopefully maintenance free for quite a while.

Having that instant connection with prospects is a definite advantage.

So yes, you can have solid concrete walls, it's still going to burn down.I have read that worst case up to 80 million Americans will relocate in the next three decades.

They are not very mobile and this neighborhood looks about the same, demographically, as it did at the time of the Race Riot of 1967 where buildings all around your property were burned to the ground.