Almost all properties need some level of work, so if you drain your accounts just to buy a property, you could be in a world of hurt later on.

Quote from @Robert Gunn: I would also be very interested in hearing student or JV experiences with Pete and his program.I stumbled upon him by chance and for fun (I've been investing in land for years) signed up for his "free" course, which he promises after he pitches his $499/mo software system (which is basically an overpriced CRM) and then after the first "Level" in the course, you are directed to a pay page to access the rest of the "free" course.  

I am not really interested in taking the land to any of those levels.The course I mentioned gets into some of the next level.

.: It has been a while Norada and Lane was on my "bizarre investment" watch list with their return level of post-usury level that can't be beaten or understood in this market in 21st century.Exactly!

Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

It is not always about stats.Recommendations:Neighborhood-Level Research: Don't just look at city-wide data.

What is the appreciation, condition, community, class level and vacancy rates?

And look, I don't doubt the anomaly potential, the Malibu homes etc. but point is when we get to certain price levels the price moves outside "median" purchase viability. 

@Dave Meyer, while I like the idea of this thread, I think there are a lot of nuances that go along with this.At surface level, I am in 4 syndications, 3 of the 4 are paused.  

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