As we are about a year out of being ready for action, I am just starting to watch the neighborhoods and keep an eye on what things are realistically renting for on CL, and how high Multi Families are closing in this market.  

Xavier, two things to watch for are the quality of the installation and the quality of the painting.  

hi everyoneI have been watching a single family that is listed a 199k for 9 months.

These are all the exact questions I am currently trying to answer for us, so I will be watching this thread.

From what we've gathered our tenants seem very similar to the angel and devil on the shoulders of the cartoon characters we used to love watching when we were kids.  

well you can thank the internet  sites like BP  late night television evangilist RE guru's webinars podcasts etc etc.. facebook.. linkdin  etc etc. and the burning desire from many to get rich as absolutely quick as possible and some irrational idea that real estate is the way.. take the bar to entry is non existent and you have a lot of beginners.the reason you have all this wholesaler activity is because the market has strengthened and they can't buy a home like they could pre 08 only way to jump in with no money is try to pimp deals.

@Brian Naumann  have you ever watched the Shea Show on Youtube?  

I am relatively new to real estate investing have just been reading books and watching videos.  

I ate oatmeal 2-3 times a day and did not own a television set.  

If Whole Foods decides to move in, then watch out.