I say if you can find a loop hole ethically, exploit it as long you aren't doing anything illegal. 

My issue is that this development company is staking there and your money on the fact that no one will exploit this niche.

I've been at this a long time (even older than Jay (although he did get coached by his Dad) and have learned that they money is in recognizing the opportunity and knowing how to control and exploit it through to the exit. 

The next week he countered $450K and then they settled on $500K to make things quick.Another investor does is exploit "bad" realtors (or maybe "good" ones who don't communicate their value well.He'll ask the owner specific questions on what the realtor is doing in the homeowner's favor, and when the owner cannot answer those things, he exploits this gap and begins to drive a wedge in that relationship and brings up things that he could do to bridge that gap.Since joining here, I've been getting emails / txts from others on this forum looking for non MLS listings.  

Some examples of areas to the North that haven't been completely exploited are Nortgate, Shoreline, Mountlake Terrace and of course Everett to the way North. 

Buffett and his team have a knack for finding it, but more importantly exploiting it.

It will be more difficult for others to exploit you, if you know what needs to be done.

Before the government and the industry reigned in short-sale exploitation - what used to be called "A -> B-> C" transactions, this type of exploitation was rampant, and even was promoted heavily by "the gurus" as a way to get big paydays for relatively little effort.

However, we've developed a nice niche business helping out-of-market investors exploit the growth and stability of this area and its RE market.  

As of next week I'll have 6 closed in 4 months....it depends on how large of a territory you can exploit a niche (or two or three) in IMO.