It always seemed strange to me to consider only ROE on an appreciating asset, where most of that equity was not capital you put in (I doubt you put 40%+ down at purchase), but was equity "created" by market appreciation, and it would not exist at all if there was no appreciation and then ironically the ROE would look much better in that case, but not in reality with total return ... not saying ROE is a bad metric, only that like with all metrics it should be considered in context of a complete analysis ... each metric tells you something but also has its limitations.

Ironically we just ran into the same banker when we were getting a HELOC.

Cost of pvc is much cheaper than cast iron if you can replace with pvc.

Or they say the bathroom plugs are not working and you go there and find that the GFIC is tripped because they plugged in the curling iron, hot rollers, and then tried using the hair dryer and overloaded the circuit and the GFIC tripped, and they do not know what that is to even discuss it over the phone.

Ironically I had conversations with two folks over the past few days who have significant gains in property sales and are under pressure to decide where to reinvest.  

damage like the hair iron foot long burn in the top of my beautiful solid wood dresser.

@bobjones- ironically I met a guy today in Virginia who said his other business was picking up mobile homes on parks in the condition you described.

A legit enterprise (like Tesla) would build a factory first, iron out all the production problems and then start building more factories around the country.

He does do side projects, and ironically enough, I just verified with my tax professional and attorney and the current structure should hold water legally and with the IRS.  

Ironically there was a little tent city under the 59 freeway "spur" by montrose/midtown.