Because I got trained and knew that it was just a matter of time I'd find a deal.

I think you may have a run on Vegas props and Vegas furnished rentals Just sayin.Oh yeah, there is soooo many trailing effects not mentioned that I think isn't in minds yet, understandably so, fires are still ongoing. 

Collaboration, innovation, and ongoing education will give anyone navigating this market a significant advantage.Let me know your thoughts!

Yes, they would have to pay it back over the next 12 months from their ongoing income at the rate of almost $1,000 per month, but they would have already avoided tens of thousands of dollars in interest and years of time from their mortgage, correct? 

How long (Months, year) does the training run and what is covered. 

.: Quote from @Theo Hicks: In ideal conditions:Pref equity receives higher ongoing distributions but no profits at saleCommon equity receives lower distribution and profit at sale (assuming their is cash flow left over after pref equity is paid and assuming their is profit at sale.In non-ideal conditionsPref equity may receive ongoing distributions less than pref, or no ongoing distributions at all, but the pref accrues.

The sales comparison approach is typically done for residential real estate and will be less appropriate and come in under value because there are no good comps, and even an appraisal using the income approach (unless the appraiser is trained to do more complex commercial appraisals) is probably not going to be the most accurate either because they typically use market cap rates and in this case you don’t have good comparable income properties to find the market cap for the analysis.  

It also has the benefit of being local which is great training wheels as you learn how to be a killer host.Now assuming that you mostly want a cool property to stay in sometimes near water and don't want to spend a ton of time managing I really like the outer banks in NC.

More control over your living space.Cons: Significant upfront costs (down payment, closing fees), ongoing maintenance responsibility.The answer depends on your goals!

So ya live "too long" oh well, it's gonna keep on going with ya be it 85, 95, 115, doesn't matter.