Some will leave the state, but many will be in search of housing in state that does not exist.  

The house I regret most for not getting it is this one,https://www.zillow.com/homedetails/N8064-975th-St-River-Fall...I was so close to getting it, but I chickened out because I have absolutely no idea how these houses even exist.

Typically this means they will take longer to close, may not have all the information for the companies they work with, and most hard money brokers get their money by taking an existing product and adding extra points to pay their fee.What is your investor success rate?

lol brother if everyone had that kind of money this website wouldn't exist.

From my experience: SMS has the best conversion but is the most regulated, so it depends on the rules in your market. 

There exists those of us that want a property in Costa Rica despite the issues we are discussing here.

I wanted to offer him about $50K over what is remaining on the mortgage and go through the 60-90 day process to assume the existing mortgage.

@Frankie Paterno In most places you will likely find that your $1.2MM will go much further with existing built as opposed to developing.

I recently added a half bathroom out of existing space in a very high cost market.  

Consult your tax professional: while podcasts are great, make sure you have an existing relationship with a tax professional you can trust.