Debt is always acquired for business, just look at how much Sam Walton had to borrow to open up Walmarts before he had to take his company public.  

Walmart, on the other hand, has a beta of 0.48, which also makes sense because even in a downturn people are going to continue to need groceries, and since Walmart has cheap products, people will continue shopping there, which means Walmart won't experience as severe of a downturn as the average company.If you apply that to a real estate market, I would think that cities with high tourism have high multifamily betas (maybe Nashville as an example).

Can't go to Walmart and ask them what they paid for the TV.

Wal Mart.

That is like wondering why Walmart needs a business license in stead  of the shoppers

In my city, they are hiring at Little Caesars for $15 an hour and overnight stocking at Walmart for $17 an hour. 

Seton is 2nd, Walmart is 3rd, Dell is 4th with 14k employees.

I personally think Northeast, East and Southeast Austin have some big growth ahead over the next decade as they have only a few new construction neighborhoods today, but not much in terms of A or B class commercial yet (HEB, Home Depot, Walmart, restaurants, etc).

As for value add, I have a huge backyard, probably the biggest in the town. and I'm a block away from walmart, and downtown so the location is good.

So I was going through Wal Mart and they had polo shirts on clearance for $3 each.