I'll use the 18 year cycle theory.The theory is that the real estate market goes through phases.

It's a great time for MF sellers but many markets are overheated at values I wouldn't touch for purchasing.Just make sure your dreams do not get hammered by being over zealous and loading up on big debt at the top of the cycle with a personal guarantee you can't get out of.Focus on high quality areas with good rent growth and a better tenant demographic.

It's a never ending cycle and I'm miserable.I'm so sick of other people (my employer) dictating my life.

For my roofing needs, I really only consider 15 year in business minimum, I have gone through several fresh companies and when I test a few days after they install a product, they are surprised and try to deny, then if they try to argue I go after bonds and miraculously they show up.

I do my own deals, but sometimes also want to put other money to work for me that I don't have the cycles to keep busy myself.

It's a vicious cycle and unless you have the money to kick everyone out and start over from scratch, it's not worth it.

I try not to contribute to that cycle!

Maybe the market is telling you the cycle is peaking and you need to find a different strategy or a different market.

That's when I say of course your building is 11 years old and most of your mechanicals as well as the roof and other items will need expensive replacement in a few years and I will not see anywhere near your cash flow.They get quiet and either want to do a deal or they say I understand but I won't sell for that and hold out for a newbie sucker that doesn't have the knowledge to know the true costs of owning a building during different age life cycles.

An area that was designated for townhomes is now foreclosed on.The new developer wants to buy the property subject to getting zoning to put in an apartment complex instead of the town houses.Of course the county says we understand WHY the new buyer wants this but we will not deviate from our vision for the county.So the land sits and rots until the cycle will come back to where a buyer will purchase for that use or the county gives in a little to the developer.It's a tug of war with the counties having huge budget short falls they really want the developments to increase the tax base over raw land assessments but can't deviate too much from the land use plans.Before selling distressed investments land development was all I focused on for commercial development.Determining highest and best use and getting it approved for that use is the hard part.Tweaking engineering and 3-d plans for approval is the easy part.You could sell now to an opportunistic land fund for cash or a developer that wants to purchase and hold.There are also land buyers that own many businesses and like owning land as they can eventually sell off for a profit but put no time into it.If you partner with a developer you can get more for your land but also share some of the expense,risk,and time into the deal.If I could benefit more by receiving cash today and investing it elsewhere that is what I would do.Hope it helps...................................