@Brian Burke, I've got all my eggs in the Bay Area basket, and it's done very well for me, but even I have to admit that the politics here gets old after a while.

They go after the low hanging fruit and what's given to them.

Another commenter has already pointed out that your deal scenario would be putting most of your eggs in one basket, which is a risk you need to consider.

From 1990 to 1998 I wasn't included in real estate business, I was a self-employed entity for fruitful deals and advertising organization that advanced and sold some items.

Surrounded by fresh produce from vegetable and fruit farms - famous for their Pueblo Chilies. 

This is enough for you to see the fruits of your labor, get excited, and continue your journey.  

As the IRS is gearing up with additional auditors, the low hanging fruit are depreciation schedules.

I'm not putting all my eggs in this basket, but it's interesting to think about and discuss.

And to Bob's point above, your risk is much more diversified among many assets (rather than all your eggs in one basket).Now for those who work Non-Performing Notes, there's obviously nothing wrong with that.

All the hard work put in now is a seed that will bear wonderful fruit later.