Population growth has generally been increasing steadily (~8.1%) since 1980 although at a more rapid pace from 2000-2010 (~11.8%).

Plastics and Chemical plants are in full swing and are expanding rapidly. 

Our industry is changing rapidly and younger blood is moving into the industry.  

you can check your local property appraiser/tàx collector website usually to see what taxes are and in a rapidly appreciating market, yes, taxes are going up so it could be legit.  

He bought it with a small escrow account for the repairs, did the work...and those improvements along with the market growing rapidly the following year he gained some solid equity.

My current payment is around 700 less than I can rent it out for, and it's in an area that is rapidly growing. 

Bob is in pretty good position currently with that savings rate, which will rapidly help him build wealth. - Bob has educated himself to the point where he is extremely comfortable with real estate in his area and understands the steps he needs to take to purchase, rehab, and manage a property.

I have a townhouse that is cash flowing and I have been paying it off very rapidly. 

To be financed by private lenders who have no real estate lending experience.In my experience, unless bailed out by a inflationary rapidly rising market, 80% of investors first deals lose money (I have made over 500 investment property loans in the last 15 years).  

Typically land contracts in Grand Rapids are around 5 years with a larger down payment.