And.....”preREO”...just another goofy a$$ made up marketing term. 

Most STR markets have seasonality, and there are untold issues in the future that will effect cashflow. 

I have purchased an off-market property from an investor who now wants to sell the rest of his portfolio.

If you're still interested, take a trip to the site once ground has been broken.The flashy marketing material for a new development is great, but don't put your money at risk for something that's likely to vaporize.

Exactly if its a hot deal cash just means you beat out the next guy who needs financing does not mean deep discount .. at least in markets were RE is sought after.

They’ll have a strong network and be more in tune with the opportunities available in the rental market, whether you're interested in single-family homes or multi-unit buildings.If you're focusing on single-family homes, try to keep them within the same area.

Are you looking to invest in the Joliet market?

It is not typical that you will find SF deal after deal, and if you are actively marketing for distressed sellers many...most...will want cash sales.

Personally, my primary residence has appreciated around 6% in market value and I live in Levittown. 

I have had many conversations with her friends about the differences in our markets and  have recognized for a while now that there may be some mutually beneficial opportunities to work with Canadian investor specifically.