Less volatile in terms of both property value as well as general economy of the market? 

I agree with the 1 LLC per project situation (on the equity side) just because of the issue that Rick brought up in terms of valuations.  

What do I need to understand in terms of economics/finances?

I have one client that I have been building a rental portfolio for and we are now on his 4th rental property that he plans to purchase in the 4th quarter as we picked up the 3rd during this last quarter.Although the cap rates will be thinner than other markets, you do have location working for you in terms of desirability.

There are numerous interesting LED recessed light solutions available in terms of 100 lumen/W or even higher, allied at interesting throw ability and light projection for LED recessed lights up to 100W.One such company that recently seems to be on the rise in this high power market is LedsUniverse, at least popping up on Google searches related to high power.Anybody heard anything about this company or tried their products?

I was wondering if there is any general consensus on the best use of my skills in terms of a real estate investment route?  

Their influx of  money coupled with your skills can and will get you going.So, you have to outline your goals in terms of the areas you want to focus on and then advertise it to the community....you will be deluged with responses from the near 320,000 active BPers!

At least in terms of splitting it 3-ways.

Would I make out In terms of a decent cash flow opportunity? 

I feel that property 2 has a ways to go in terms of upside, both in rents and equity, which is why I bought it.