They might be the largest in Texas if I'm not mistaken.

Not understanding those costs, they mistakenly underestimate them, and give far more value to the raw land than is reasonable for a developer to pay and still make a profit. 

If I'm not mistaken, FHA can cover 2-4 units in a multifamily property, right?

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Furthermore, If I'm not mistaken, by keeping the earnings within the corporation to reinvest I will also be saving on taxes until I pay myself.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – and they often select the first PMC they call!

@Calvin AveryUnless your local real estate laws say otherwise I believe your friend is mistaken.

Apart from that, you are very mistaken for calling Robert Kiyosaki a sham, I've met so many people who are able to make something of themselves all thanks to those books.

I believe he is in California as well and if I'm not mistaken, he buys remotely using a team.  

Every city has it's own DNA and some cities will have a flat line while others will continue to drop.I agree wit Taz in his assessment and would add that anyone thinking that RE recovery equals a steep incline in pricing is sadly mistaken.