Better to cash out refi the appreciation and reinvest in CA or speculate in low appreciation markets. 

I'm speculating, but I don't think I'd use it for more than say 7 properties.

Theoretical speculation versus real world application is a stark contrast with D properties.

@William thank you for the explanation.I just see this term used a lot more frequency and can't help being curious.I speculated what could have prompted that too and the only scenerios I could come up with is a trailer home being hauled out, or something like erosion, where a landslide eliminated a significant portion of the land, or a hurricane hitting the beach and took out some parts of beach front land...something crazy like that.In the case you mentioned, someone actually moved a house?

You seem to have an apparently biased opinion but have failed to list one true and real reason as to why this would not be beneficial for an owner... you list many grievances and speculations... but nothing of substance and validity.

If you bought in 2004, you may have been swept up in the tide of real estate speculation.

Nigeria have always being portrayed in a bad light, so i want to find out the good, the bad, and whatever ugly, experiences you might have had, concerning the country, informations gotten from any other source, other than a first hand personal experience, will be ruled out as a mere speculation, if you've any good story about a Nigerian, still share it.

I really like the idea of a quick payday, however the problem with rehabbing is that it is a J-O-B and also very speculative.

@Devin Wynn "the property does not increase in value"Buying based on speculation is a slippery slope imo

A 20% IRR deal isn't better than a 12% IRR deal if the lower return is a low-risk stabilized property in a great neighborhood and the higher return is a speculative development project in a sleepy market.