In no particular order, here are the worst 5 reasons given to us for needing a commercial real estate hard money loan5 - Bank foreclosing - was unable to make payments to due to gambling addiction4 - Need cash out to pay off Mexican police to release son from prison3 - Need cash out to buy Ferrari for 23 year old Russian girlfriend2 - Bank foreclosing because charged with homicide of loan officerAnd my all time favorite1 - To get as much cash out of properties before filing for bankruptcyYou can't make this stuff up!

Not saying buying at the right time and gaining appreciation wouldn't be great, your still just gambling on an appreciating market.

I have also chosen to keep the tubs in my rentals for the same reason: it gives you maximum flexibility for future buyers/tenants.

I think there are too many unknowns to be getting into a gambling situation with interest rates 5 years from now. 

I know many property managers that won't even manage a property with a home warranty because they are so slow and difficult to deal with.I had a friend that went to Vegas for the first time and he was really excited to try gambling.

I'm to busy to waste my time pushing someone towards Cleveland when it's a better investment of my time to focus on the folks who have already chosen Cleveland.2. 

I won't call them out by name here, as you have chosen not too.That said, 90% of that stuff in those inspections should have already been completed.

Since this is my first deal I will visit my chosen market.

Be prepared for a long-term buy n hold unless the gambling or short-term rental regulations change.

Have you chosen any niches that you want to focus on ?