Late fees aren’t revenue generators, they are meant to incentivize timely payment.

@Tim Johnson I think you understood what I meant.

I feel like the additional house rule is more meant for the smaller properties.

@Larry Turowski the comps were similar and as close to it as I could get and no I meant 91 per sqft.

A big challenge we dealt with was buying in a hot market meant that we got instant equity and good cash flow but getting good contractors to service the home is difficult.

Not sure what you meant by tricks. 

From what I'd casually read, I figured this meant it would be fairly straightforward to use a FHA loan to purchase a second, multi-unit property a year later which would be my new primary residence; most people just cite that having 2 FHA loans at a time is the issue. 

My analogy of the collectible car market was not meant to "compare" the US to classic cars, only to illustrate that there's no absolute that says sellers will magically materialize to reduce prices such that the housing market plunges. 

But again, unaffordable doesn’t meant overvalued.

But doing that here might have meant that you wouldn't own a property.