I am looking at moving my company to PR... that said, can you please provide your thoughts (brief and high level is fine) re: PR real estate market?

BP is maybe the greatest free resource to help you get started in Real Estate Investment there is on the internet.

You are shortchanging the REI returns because you are not factoring the two greatest powers of REI:a - the compounding effectb - the fact you can quickly get all of your cash back, and still be getting a return (compounded) from the original REI

@Sonny Sach IRR is equivalent to an annualized return, except it takes into account Net Present Value (NPV) of money; or that a dollar today is worth more than a dollar tomorrow.High level, if you gave someone a 15% annualized return in cash flow every month for 3 years and no back end sale proceeds, your IRR and annualized return would be 15%, because it was 15% always.If you did have of that in cash flow (7.5%) and made up the difference on the back end sale at the end of year 3 (22.5%), you would still have an annualized return of 15%, but you're IRR would be LESS because it took 3 years to get the extra money instead of throughout the entire period.I haven't done the math to be honest, so in the first example they may not be exactly the same, but they will be almost the same where as the 2nd example there could be a couple percentage points difference between the Annualized Return and the IRR.It's because it takes into NPV that IRR is generally regarded as one of the more important metrics when comparing different investments because in incorporates the length of hold to achieve the desired return. 

If you've got debt dragging you down, take care of it to at least a comfortable/manageable level.

@Warren Kong@Greg SoonThat all depends on your experience level and how comfortable you are with understanding the contract and knowing what a contract should include to protect you.

However, at the level that a potential buyer would be playing at, they are more isolated. 

Mail can be effective but it very impersonal and some people just will not respond to it at the Commerial and Multi Family level.

Consider who is YOUR ideal renter and YOUR goals and risk levels and then work around it that way. 

The investors with the greatest success play nice with market cycles skillfully.