I know that it's a hypothetical and we can only speculate, largely dependent on the whims of the FTB. 

But trying to use this data and apply to the future is pure speculation.

It's not speculation when it's been the trend for over 50 yrs...

There's just too many reasons to speculate, without having a specific property to discuss.

I could speculate most bpers would agree.

It is a cash flow market, as opposed to speculative capital gains.

It might be better to buy with your private lender and buy them out with a future refi and payoff the seller, can't tell.I suggest you check first on alternative financing and ensure you can obtain funds rather than speculate as to when you can meet the obligations created.Note terms can have endless possibilities, it needs to work for both you and the seller.Much has been written about financing concerns, I suggest you see your banker and/or a mortgage originator to guide you specifically so that things may be planned.There is an old thread that has aspects that are applicable to your thoughts, not entirely but aspects, "What do you want Mr, Note Buyer" it's long, but there are gold nuggets in there you should understand. :)

There is a Gail from Augusta who posts on there, my supposition is that it is one and the same person.

To me it always makes sense to buy a great deal if you see one, anything otherwise is too speculative.

I would argue that the mess we're in arose primarily from the housing bubble and was exacerbated by fund managers' over-leverged speculative plays on the housing market and derivatives thereof.