This can provide a hedge against the market cycle risk.All of this means that you can have your cake and eat it too, but you have to align yourself with a group that understands the risks and executes with capital preservation first, and return second.

I offered 129,000 as I knew their would be multiple bidders (I even sent a nice letter and a small edible arrangements package) -- got the idea from @Brandon Turner from a podcast.

Appreciation is icing on the cake. 

Not paying or paying little commission is just icing on the cake.

Unless there's some major update to this town or if it's part of a larger MSA that is expanding or if homes are selling like hot cakes.

Offering a cake job but they just don't return our calls or don't show up!

Not everyone likes cake, and not everyone invests the same way.

Flipping homes is a full time job and no piece of cake even for a local operator.I suggest you tread very carefully . 

Make sure it makes sense in the right now, future is icing on the cake.   

Appreciation is something that I look at as "frosting on the cake".