They have bank regulators breathing down their necks and must underwrite loans conservatively or lose their jobs or worse yet be accused of fraudulent activity by the feds for not following protocols and get into legal trouble.

Low quality assets in okay locations throw off cash flow (sometimes) but generally do not have long term appreciation or high quality dirt value for redevelopment in future years.Some areas do have massive transformations but those are big gambles over time.

So I guess what the basic question is can Pittsburgh sustain these new markets and what does it mean for existing nieghborhoods beside these nieghborhoods and further from the city, To me things seem to be more of a gamble, then the stabilty you have seen from Pittsburgh in the past.

It's a legitimate procedure post tax deed sales here, and generally used to correct mistakes, errors, or fraudulent acts.  

We all lost out on that deal and the seller gambled that my client wasn't going to lawyer up. 

If you want a legit proof of funds from a legit lender you need to cultivate a relationship with a legit lender and ask them for one.If your proof of funds is some anonymous letter from the net or from someone who is not really your lender it is fraudulent to provide it.

I have had doctors and lawyers rip my rentals up so its always a gamble! 

for a 1031 exchange, it needs to be real property being transferred to other real property in an amount equal to or greater than the original amount.you can't "1031 exchange" dollars earned from wholesaling, stock trading, gambling, etc. into real property. 

In my experience I've never even considered the thought of gambling for short money, so I've been wrestling with this idea for about a week.I do take calculated risks with my own money, but I'm not so quick to do the same with an investors capital, no matter how much or how little capital is on the line.

(gambling if you will).