I'm not in any way saying I think real estate returns will be superior to (or for that matter, inferior to) equity returns going forward.  

If that person gets orders from their superior that they are getting relocated, you must let them out of the lease without penalty, but they must also give 6 months notice.

I think you will fine in the long run your Broker License its a mark of superior knowledge and ethics and you will garner respect from those that don't possess "the force" and the continuing education classes will always keep you up to date. 

Perhaps saying the first mortgage lien is normally superior to the IRS lien is an over simplification, but they normally are. 

You're the same guy who would (admittedly) steal a deal from someone else, so please spare me the superior ethics routine.

The building appears to be somewhere in the 40-50,000 sq ft range and is located primarily in a commercial area.Now, prices/rents in Irvine, CA are ridiculous which means this business really has to have some superior margin numbers to be able to turn a profit.

Mutual funds and like are generally sold...not bought.Why do you feel like real estate is superior to the other investment products given your goals?

All the properties that I have bought from relocation companies have been in superior condition. 

What happens to the lending environment when states change to HOA liens being superior?

Not to mention the risk of the escrow deed loosing it's superiority in theory to another lien or encumbrance placed on title prior to the lien leaving escrow and being recorded.