RE investing is not just about cash flow as profits can be obtained in changing the use of properties, developing areas and manipulating growth in an area to improve valuations, not so much speculation (but can) but designing future appreciation.

This smells too much like the real estate bubble we just went through, where price was driven by speculation rather than real numbers.

For me, I want both, as I cannot afford to go negative for years on just speculating.

People are willing to take reduced returns or hardly any cash flow ON THE EXPECTATION that the market will blow up like crazy and you will have huge returns on the back end.I hate to say it but that Is not investing but pure speculation.

They were speculators who acquired tenants and the tenants were in the way of their plan.

It was speculation on my part at best, and lessoned learned.  

Based on the article on why real estate is going up, it seems very speculative right now.

The whole point of this thread is that bubbles happen and speculating that high priced real estate will go even higher is dangerous, unless you have an excellent handle on all the factors affecting a market or you have the wherewithal to ride out a bubble burst for several years.  

I am only speculating that because its a free and clear property, they're not dealing with vacancies in an urgent matter?  

I don't know, I'm just speculating.