There are many different flavors of real estate investing every time you meet someone new you'll discover a new approach to it.

@Mike Oliveira In Ontario, you have to break it down into two distinct groups to look at the economics:1) GTAAs per the Ontario Population Projections Update, 2015-2041:"The Greater Toronto Area (GTA) is projected to be the fastest growing region of the province, with its population increasing by over 2.8 million, or 42.9 per cent, to reach almost 9.5 million by 2041.

Also, I encountered the distinction between SFRs and apartments/condos and I am glad you mentioned that they impact the markets differently. 

I only took two economics classes in college but I distinctly remember learning that supply was a driver of price. 

I will take a stab at why the caution, and please let me know if you agree or disagree ... it seems to me that even among the NPNs there are different "flavors", but the main ones that come to mind that I think are pertinent to the discussion are:1) Non-performing 1st with sufficient equity (from the LTV and/or discount you got) such that you can foreclose to recoup your investments plus make a decent return.

In Virginia, where the OP is, I believe they will get paid.The distinction has to do with how a judgement lien attaches.  

Property taxes are distinct from income taxes, though, and can constitute a lien, even if no lien has been filed, yet. 

@Eric SchaferYour employer 401k is likely locked up in that plan until you leave the company.Self-Directed retirement plans come in several flavors.  

Have a clear distinction of tasks.

However, it's crucial to scrutinize the figures and consider factors like market trends, competition, and potential fluctuations in daily rates and occupancy.Given the absence of comparable data on AirDNA and the distinctive nature of this building, assessing the deal might be a bit challenging.