We are into the slow/steady price increases phase of the cycle, and if I had to guess, won't see another downturn (when we'll see lots of cheap deals again) for several years.

As to unfinished projects, still building, ensure the other phases are under separate assessments and if not consider contingent liabilities as to contracts and projected debt coverage, lease up or sales of at least 2 years, look closely to the market demand and scope of project.

Even then...most title companies and attorneys have probably phased them out by now.  

I would like to work within the confines of the laws and I can't see myself being completely hands off to the remodelling phase.

I'm not blowing smoke at you or evading your question, but understand that at each point of any phase you can have alternative turns or decision points that require further investigation.I would begin, as Patrick pointed out, understanding my exit strategies.

It's a very large project over a 1 million square ft. that is located here in Atlanta and is currently in the due diligence phase.

The original BMW law had a phase in of 4 years, the revised legislation extends that self support point for the Flood Program further out into the future.

My wife and I have been thinking for years to invest in real estate, however because of our lack of knowledge in this field, and our own fears, it never went beyond the "thinking" phase.

I was able to text the seller on the FCIXchange site after I got to the due diligence phase of their note purchase system.

So for all of those who were in this boat or have taking apprentices in this boat as a mentor, what were your secrets to getting past this phase to gain some experience under your belt?