Quote from @Chris Rich: Depends on your approach - cash flow or appreciation.

Then come to find out his wife's father is incredibly rich (how dare we think any money came from the wife's family). 

The reality is the really rich have coastal properties and they're not going to accept nothing when it's wiped away even if they have hundreds of billions, there'll be recourse.

A prudent investor doesn't seek quick riches through shortcuts.

I recommend reading "Your Broke because you want to be", then follow that up with "The Millionaire Next Door" and then "Rich Dad Poor Dad". 

The only time it gets dicey is when its the ultra rich because yes they can spend the $ to keep it hidden. 

You wont' get rich from it but you can scale much faster. 

Rich Dad Poor Dad by Robert Kiyosaki.

Quote from @Rich Hupper: The other funny one is when a first time buyer comes to me with their fha loan and says they want to find a "deal".

i have a great property i could send you that i found has many great qualities its a cozy modern home with workshop and detached garage price is close to half a million but could very possible to change the sellers mind for your price range seeing as it needs renovations not many but still need them this property is in washington state but the area is good for selling seeing as a majority is rich and looking for nature vacation getaways right by a beutiful lake and mountain contact me if you would like to find out more i will have to note if you consider and take the property i do require a finders fee of a minimum of 500 depending on the deal