It is competive and it is where all the big guys play.

There was a recent post “racism vs return” that got a lot of comments regarding how morality plays a role (or not) in business decisions.

At best it's a get rich by the time you're nearly dead model.

Pier placement plays a big role as well.As far as electrical, Zinsco and Federal Pacific brand breaker panels are the 2 big no-no's.

Not sure if that would be a consideration here somehow.Disclaimer that I am not a lawyer, and am not playing one on BP.

@Jay HinrichsIt will all play out in the impending months, I'll keep this topic updated with all the happenings and such.

So that by the time you are ready to retire and sit on a beach or play golf all day, the houses are paid for and you can live off the rental income. 

Dead equity is more risk because it's cash you can't access in an emergency.

If you are looking to be financially free and live off the investments forever; look for syndicators that plan on doing “legacy plays” where they rehab the property, refinance and hold onto the property for life.

The deal was done through a local auction company which sold the property as-is with the buyer playing all closing costs.