Here in Ohio 50 million dollar license fee to start a casino.

We also offer a limited listing for $500 for 6 months to our sophisticated sellers, but that's largely just a way to try to help stimulate more inventory to market and hopefully a way to get the jump on properties for our buyer clients. 

The main difference between you and I might be that I'm using a property manager to take care of bed bugs and toilets, which goes against your final point about having better luck at a casino.

The owners of those properties have what i would call the most passive experience but these are generally 5 million and up properties in our area so sophisticated owners by and large that are either very successful with their companies or very high wage earners..

Why does everyone act like people at this level don’t have the sophistication to have multiple exit plans??

Thats the issue.. and of course as you state we are all out there trying to score real estate deals.. so most folks that would sit down with a civilian seller IE not sophisticated in the least are not going to point out all the RISK factors for them. they are just going to talk about the blue sky this is great for them factors.

A former Structural enginee:  designed airports, casinos, 1M+ sf industrial buildings.

I did enjoy going to all the casinos with all the great poker action.I also enjoy buying 35k properties that I can rent for $800. 

You mentioned this property is near new casino construction.

For fun, I pulled out my dialogue with you, but not even in a really sophisticated way.