Opened up a hard apple cider bar 20 minutes south of Atlanta GA back in 2018.

I do franchise financing and have run into this group with their BELOC - it’s claimed to be 10yrs IO full term low rate and they finance 100% of project. 

Sometimes appraisers, especially if they are not familiar with the specific neighborhoods, or, if they are from out of town, unknowingly compare apples to brussel sprouts.Anyone active in Fountain Square, Fletcher Place, Holy Cross, Bates Hendricks, Herron Morton or other hot neighborhoods experienced this?

Pick the right set of securities (like my friend who basiclaly just bought apple for the past 20 years) or the right real properties, you can make out like a bandit.Apples to apple comparisons are difficult. 

Imagine if you could buy apple stock without using your own money, but you get all the appreciation and dividends.

Also ROI should be annualized in order make apples to apples comparison of investments.

Yes, there are bad apples and those are the ones that deter everyone from being a landlord. 1.

If one wants to compare apples to apples, then be honest and compare good implementations of both models against one another.

Sales and management is apples and oranges. 

Otherwise, you make a TON of assumptions on operating expenses that are almost never apples to apples.