Literally, the wrong words in an innocent phone call can violate the law.Step 3 is spending a day observing in eviction court. 

A California client made the following observation to me based on his experience in the California investment market.

Hello BP Community,I’ve been quietly observing and consuming content from BP for about 2 years now (I guess that’s lurking).

So right now there's no observable impact for me but I'll go out on a limb and guess that it residential family areas you'll have NIMBYs and lawsuits that echo through the courts for a while...

Then once you are working on the deal, you'll continue to update the numbers to make sure you are tracking.Good you are getting GC costs, but make sure you get all your soft costs, insurance, architect, CE, MEP/S, soils, environmental (Phase 1) if needed, condo map completion, dept. of real estate condo map sales process costs, etc.My observation at this point is that my ability to guide you through the process via BP posts will be very limited.

Another thing I'm observing is that people have been resistant to pricing down and getting an under performing asset off their books.

It sounds like this is shaping up to be a good investment property, in an area you know well and have observed positive trends in, so if as long as you have a little cash reserve for unexpected expenses (always pays to be prepared for the worst) and you've accounted for all the regular costs, then this may very well be a go!

I went to the site and observed a new roof being installed .

@Pat Clancy  The condo market in most parts of Boston is, a you've observed, hot.  

Of course there's no reliable way to predict exactly when the market will peak, but there are definitely ways to qualitatively observe the increasing level of market saturation, and thus get a better confidence that we are nearer to the end of the cycle than we are to the middle.