He asked if he could go with me and “observe”.  

This is my observation, I may be wrong and would appreciate corrections.

I didn't conduct a deep dive in to the neighborhood comps but this initial observation points to a pricing issue.

Are you just looking for permit ready plans, custom design, and/or full services that include construction observation?

From what I have observed, often claims of big appreciation are related to LISTINGS and not SALES, and cashflow claims may be one-off outliers vs averages.3. 

However from my observations the squatter occupied properties tend to be in lower barrier markets and I wouldn't personally want to spend my time and effort trying to create value in such neighborhoods.

Although the three regions have different urban development plans and geographies, some growth trends observed in Cancun have been replicated in PDC.

@Robert Goldman, would you say that those results/issues are based on your location, or is that what you have observed from multiple places/opinions from others?

I've observed too many new investors suffer severe losses in recent years by solely relying on the STR model, paying too much for properties, and then being forced to sell them at a loss when economic conditions tighten.The past two years, I purchased over 30 houses in 6 different States, and my strategy of diversifying investment plans has been crucial.

But I can make some observations from my own experience (specific to Georgia).