It's risky to count on historical appreciation without paying attention to the current dynamics.

Think about the dynamic of the prospects your are interested in attracting and what media they would use to find your ad. 

HI Todd,There are a lot of dynamics that go into buying a larger apartment building.

It is difficult to explain what my mind is exactly thinking about real estate because it is dynamic and evolving.

I can understand having an auction that garners buyer interest and raises the price of the property through competition and the group dynamic. 

You will start at the "ground floor" and learn every intricate detail that is required of a buy and hold investor.

I will be discussing it with my brother in more depth.You are all completely right about the property manager dynamic as well, they do what we tell them, not the other way around.

Investor sentiment changes year to year based on market dynamics of different assets classes and even subsets of those classes to be in a buy, sell or both position.NNN food you have to be very careful on that.

I have not read it but Brandon Turner's book looks like a good resource:http://get.biggerpockets.com/nomoneydown/I did read this one and it was pretty good:http://smile.amazon.com/Nothing-Down-2000s-Dynamic...That said we only do deals where the exit strategy is clear.

It allows you to understand market dynamics, network with sellers and buyers, and learn negotiation skills.