First , the guy you get off craigs list isnt a contractor , the guy swinging the hammer isnt generally the contractor .  

Ar you thinking about offline conversations while playing golf?

Let me take a swing at it.Starting out, I'd find out which is the dominant (market share) office in the area. 

I like Mike's idea of moving equity from overpriced cities or cities with a history of prices going higher then average when the markets good to cities that have less of a price swing.

I think investors overpaid...some bought from seminars local realtors would take to California to sell brand new golf course community homes or old apartments in excellent school areas “renovated” into condos and sold for more than the single family 3-2-2s down the street.

Thats 'very appealing when people are fighting the cold in the northeast and midwest, and it's golfing weather in Phoenix.

Being an investor and being an agent involves wild swings in monthly income - make sure you're prepared.

I also enjoy playing poker, chess, and golfing. 

that's old news.... when the market swings back to a buyers market that may be true but in a sellers market.. not true.. and you need a new capital partner if they wont give you POF..

Either way, I live in Pinehurst, NC (a.k.a - the golf capital of the world!)