We are cash buyers so maybe that helps eliminate some of the silliness the rest of you have had to contend with. 

I also wanted to add in my area many banks board of directors from failed banks that the FDIC took over are now being sued for damages.The FDIC says they were given a compliance letter that there ratios were out of whack and they needed to change loan practices immediately to protect the health of the bank and shareholders.The FDIC contends they ignored their responses and are now suing them for negligence.Will have to wait and see how these cases proceed in court.Now you know why many banks won't touch non-vanilla stuff.

We use our own cash, so we don't have any financing costs to contend with in our ROI.In this market, I believe you need to project a 30% return to even consider a deal - that way if things go wrong (as they sometomes do with the best of planning) you can still come out smelling good.First rule - don't lose money.

However, we don't have snow or ice to contend with.  

Yeah U agree with George if they passed in say the first year I think you'd have some VERY angry heirs to contend with.

Jeff S Lupe's Lending is a strong contender for a business name.

In other words, as has been mentioned here, you need an expert.But, I would contend, you don't need an expert financial advisor (if what you are looking for is investments and not financial planning), you need an expert investor.

But we are living in a new economy with new variables to contend with.Dallas has ALWAYS been a big boom/bust real estate market versus Austin (steady up and to the right) and San Antonio (increasing but more slow and steady primarily because of aerospace and healthcare).  

The IRS contends rentals to family members, even at FMV, are considered personal use days unless the family member uses it as a main home. 

@Alan Caceres Id contend that your investing criteria should ALWAYS BE CHANGING.