With your knowledge, the current state of the market, and opportunities on the horizon within the next decade, which strategy would you attack first and why?

A company selling for $12 million with $10MM in cash, no debt, no revenue-killing event on the horizon, and $2MM in profits would be such a deal.

Its common for sellers agent in this market to pressure buyers by saying there is another cash buyer on the horizon.   

HORIZON Roofing and Restoration http://horizonrr.com/

Keep me posted if anything is on the horizon!

Its no different than buying something retail price at Best Buy, or using a big company for plumbing like Horizon -- you will pay for their "company costs" on top of everything else.Also check in with any local credit unions if you can.

I went so conservative on value and expenses the long term horizon probably isn't accurate. 

I have seen the difference when company layoffs were on the horizon in how people behave. 

Is your investment horizon 5, 10 or 20 years?

My opinion: funds are best suited for institutional investors who have long horizons and need to place large amounts at once (past life was $10+mm commitments).