Hopefully you are starting to see these investments as products and they have a set market price.

They’ve already made a name for themselves in Mexico with projects that blend eco-friendly practices and thoughtful design, and now they’re bringing that expertise to one of the most popular markets in the U.S.For investors, this could be an exciting opportunity to work with a developer who consistently delivers quality and strong returns.Check it out:  Travel weekly by Northstar

What is next is getting back in the market and creating more opportunity for our clients to ride the next market upcycle.

I am leaning on local first for my next investment, but not ruling out an out-of-market opportunity. 

Through loopholes there are many home owners that are illegal immigrants, if they get deported , what will happen to their homes?

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Most PMs concentrate on marketing, and at least somewhat neglect operations.  

At the same time, I think the industry in general is a mess and David is right that many investors will get hurt.  

His family made their money with W2s and the stock market.

If not, who do you believe the natural buyer is and why do you believe they will pay retail when they can replicate what you accomplished with any number of available properties on the market at any given time?