Their goals and upcoming upcoming purchases may come into play. 

Like with anywhere else: location, pricing and the overall house you intend to build will play a factor in your profits.

So, you're not "wrong" in thinking it's complicated.The tax code plays heavily into how certain transactions are categorized and there is some flexibility regarding what we can capitalize versus deduct.

Preference is cash-flow, but open to appreciation/equity plays as well. 

Each city’s approach can play a unique role, but zoning for higher density developments stands out as a powerful strategy, albeit a tough one to get passed.

Like playing loud music in the middle of the night if you upset her which goes through the walls.

It's a really high-energy dog and I don't think they take it out often enough, so they play indoors a lot.

Strategically positioned behind two other investment properties, it plays a central role in transforming the area into a thriving residential community.

They are really close to where I work and it's definitely a great long term play with all the investments going on around it. 

Quote from @Sebastian Bennett: It's funny because I actually had a dream of setting these up and seeing how this would play out lol