This is especially true when there are a number of players involved. 

Memphis's downtown area is being redeveloped by several big out-of-state developers, and that shows that major players have decided that Memphis is a market worth pouring money into.

I had a tenant once say he's a professional poker player, plays poker on the internet and gets paid from an offshore account, but he said he doesn't include much of that income when he files his taxes, he wanted me to trust him he could make the rent...I now request the annual 1099 (equivalent to W-2), certified copy of IRS-1040, and letter from accountant (preferably CPA) which should state nature of business and income holdings, annual income expected for current year, amount of annual personal income applicant takes from business, and bank references, credit report, etc.

The REO Notes and NOTE world altogether, the serious players get so many newbies, that they lay low and keep it an "ole boys club".Took me years to finally make REAL contacts in notes.

This is how the big players are generating their deals.

That being said, the big players and the newbies overpaying can't buy them all.

IN own there is 5 major players the only bar that has changed hands was 13 years ago and that was a shady place running drugs and now a very succesful place ad I am close with the owner i know his numbers.

It doesn't sound like it was a home poker game that got busted, it sounds like there was a full on casino happening with dealers, etc. and he worked to conceal it.

So far I turned down a Los Angeles Clipper basketball player and a Hip hop rap artist.

If you talk to serious players in real estate and you don't know $/sq.ft. comps, they will assume you don't know what you're talking about. 3) While not always equal to actual market value, appraised values are meaningful.