Arizona, for example, recently passed a state law that supersedes and overturns any local bans on Airbnb. 

Leverage out tasks to others.Liquidity eventsMost investors focus on ROI, worth consideration but even more so is ROE, return on equity.

It's more questions and considerations, and might interest you..http://www.biggerpockets.com/blogs/4579/blog_posts/32645-if-ca-h-is-king-then-leverage-is-god---loans-cash-roe-roi-and-riskThere are a million indeces, but for real estate specifically, I think looking at affordability indeces, how loose loans are (either through Federal Reserve loan surveys, % of subprime or low-doc loans), and consistency of % real estate price gains far exceeding inflation for a sustained period, are all risks to look for..Also, when you hear your dentist, then your mechanic, then your landscaper, then your landscaper's assistant buying up and preaching the wonders of real estate investments.. when it's the topic of conversation of every cocktail party.. and when it's the only asset class everyone wants to be in.. you know the market is getting frothy..!

This keeps your cash out of the deal and pops your ROE, IRR, or any other metric you use as a hurdle rate for the project.Buying subject-to generally ups your purchase price above what it would be with an all-cash offer so all of the scenarios need to be modeled for each type of transaction to see which one makes the most sense.

., whip out the contract), the faster a judge will overturn a lien.Knowing a contractor faces stiff penalties for filing a false lien doesn't make me feel any better while I'm being restricted from selling my house.Now for all the government benefit programs, all you do is say where is the employment agreement, these guys are self employed, where did they work last?

Its not always about trying to maximize cashflow, ROE, etc.

If I pay cash for a home, I have 100% equity working for pennies on the dollar, giving me a very low ROE.  

That would increase the ROE. 

They know it is unconstitutional, but they will push it through anyway via executive action, that will then be challenged and overturned in the courts after long litigation periods.

Should have been ROE (return on equity) not NOI.