How has the market changed in two years? 

Reading it changed my mind set about working and creating wealth, but didn't give me many tips on how to actually accomplish those goals.

Depending on where the land is (county & state), the reason I say you must get rezoning approval, at least in my area, is to change the use of the land from its defined use on the Master Land Use Plan.Suppose you have 11 acres and the house, and you separate the house with one acre from the balance of the tract leaving a 10 acre parcel of vacant land.

Also, if this owner files bankruptcy that can change everything. 

This is due to vacancies created by bad carpet and the need to have the unit unoccupied to make a carpet change.

Fast forward to now.

We just don't know, nobody does, but we're jumping in.As far as Phoenix, I know it's crazy competitive, so you might defer to the other poster and change up strategy.

Its brilliant at changing your perspective from looking at bottom line dollar amounts to looking at the trade offs in terms of rates of return.

@David StoneIf this is a conventional loan the reserve requirements have changed.

I'm so glad I was prepared years ago to jump on opportunities so rewarding that they are literally life changing.