Amarillo isn't a destination per se, but a tremendous amount of people come through here every day on Interstate 40 - about 100K cars per day. 

So yes, to me, CA has a SIGNIFICANT amount more of homeless than what I am used to seeing, because IT DOES. 

Wise lenders have borrowers sign legal agreements and have them provide collateral that is worth more than the amount of the loan in case the borrower doesn't make the promised payments on the loan.

Please double check this and make sure that wasn’t the amount for the raw land prior to the build.

I do have some investment experience and I'm currently managing 1 property, all the numbers are great and there's a good amount of cash flow and long term growth so I'm not a total green horn. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I always a little under my target amount ( a month interest and half the cost of the attorney) so they can negotiate. 

In Texas, the state I mostly work, despire me being in California, sellers in the "B" usually are okay with lower EMD/option amounts, i.e. $200. 

The process takes about the same amount of time since an appraisal and title work is generally still required before underwriting and funding the deal. 

However, they spend a ridiculous amount of time for 1-2 deals a year.