Houses are scarcer than hen's teeth, and there's not much to go around so agents are having a rough time of it.I ran some quick math numbers in my area yesterday and making a whole lot of assumptions (for example, only 40% of all local agents were party to a sale, everything that was available gets sold, etc) the math didn't seem to pencil out very well for agents right now.

They speak great English because they are born and raised here they know the industry say all the right things.. their main target is the dreamers like Ingrid Robinson was/is.. she was in the health field and decided to do a big development up at Clear Lake CA.. which is where i cut my teeth selling RE back in the 70s and my dad in the 60s .. so when i saw that and the property she wanted to develop there on American greed I was stunned.

For a new investor, my suggestion here is to find something where your all in project cost does not exceed 60% of the ARV - there is wiggle room here up to 65% of the ARV, however 60% is a safer bet and will allow you some room for miscalculation, market correction, contingency, etc.As a first timer, look for something easy - I would keep rehab to 15%-20% of the purchase price - something to cut your teeth on that a lender would agree is a good first project.A common issue with first timers is attempting heavy rehab/gut reno projects that may be a great deal, but in reality are riskier for lenders and first timers.Feel free to reach out with any questions, share my experience.

Good schools district and a nice area to cut your teeth.

They are getting sensitivity training. 

Contracts are meant to be followed, and if there is no penalty to leaving the contract terms and going to someone else, what's the point of making a time sensitive contract in the first place?

@Wes BlackwellDuring the last downturn, getting a loan was difficult like pulling teeth, no one knew that market was going to bunce back...etc... etc... etc....I do think we will have another opportunity soon, maybe 3 years out, for sure not as severe as last time....In most of south bay (where I live), it was 20% drop last time, so maybe we will have a 10% drop this next time...

I would be passive as much as possible and then a string of problems make me sensitive to all that is happening.  4 evictions in 3 years is pretty high and in some cases clearly due to poor tenant selection.  

I'd make sure I had enough teeth in paperwork to where you couldn't do it.

Yes it’s like pulling teeth recently.