I am aware I am a builder and my bank allows me 12 spec loans at a time but if I pre sell that does not go against my spec number this allows me to build and sell at a much quicker pace... although they also want copies of the transactions and if they thought the presales were just flippers tying up the homes I am pretty sure those would not count at least to my banker.. 

It represents the number of months it would take to sell all homes currently on the market at the current pace of sales.

I agree that we have a supply problem in California; I'm trying to project if the current pace of demand will maintain, increase, or if we will see it wane (then we no longer have a supply problem).  

We're also able to evaluate our rates, and keep pace with inflation, on a monthly and quarterly basis because of shorter term leases.These syndication can provide an 8%+ cash-on-cash return - providing you monthly cash flow - and a 15-20% IRR over the length of the project.

I do understand your situation in Austin where it may be difficult to have inspectors and appraisers move at the pace that you need them to move do to marketDemand...

The first purchase will set the pace of everything that comes after.

Dallas was a great place to go to get a lot of good experience fast, but I hope you enjoy the more relaxed, congenial pace here in Central Arkansas as much as I do.   

Seems you've got your own websites and agenda Jay.... 

BiggerPockets has been inundated with "reviews" of Pace Morby and his SubTo community.

Going forward I know I need to better understand creative financing options that help me contribute more towards bigger scale and return projects.. understanding that is what really allows someone to scale at whatever pace they find convenient.