Some say do option 2: Don't be penny wise and pound foolish and risk $5MM in personal assets for a $400k rental investment

We learned a ton through the process (like it's easy to be penny wise and pound foolish and that I'm not the best drywaller, etc.) and mostly just had fun.  

My wife and I had gone to one of those 3-day hotel banquet room 'boot camps' where they pound you with information for a total of nearly 30 hours, gradually taking away tables and seat, increasing the psychological pressure until you either leave or buy-in. 

Sounds good on paper, but in reality.....Penny wise, pound foolish.

If you want to learn about your market pound the pavement.  

Due to the favourable exchange rates, pound vs US Dollar (sorry guys), I feel that this is a great opportunity to invest in some property in the States.

With the rate of the dollar gaining on the worth of the pound, i think some serious money can be made over here.

Just pound the pavement. 

Mortgage loan denial: After a decade of the public being pounded with the message that mortgage loans are almost impossible to get, many are starting to believe it.

If an investor comes in with the typical 60% - 70% of retail value, I'd expect them to tell you to pound sand.Even for real estate agents looking for listings, it's not much more productive.