Also, due to housing affordability problems all over the country, there are certain regions attempting to address this issue with a level of macro-economic ignorance that I do find problematic. 

In this market I'd take a guaranteed 4.5% return (not to mention lowering debt and being better able to weather an economic downturn/adverse event) and run.

What is an economical way to remove the bee nest?

Basic of economics and finances, learn to save and be ready to lose that savings by investing.

Could open up some interesting opportunities to those of us in markets like the Bay Area that currently don't make economic sense for things like buy and hold. 

Double major as a math and economics major and get your real estate licensee.

@Hayes Mercure Along with the monthly fees make sure to get a good picture on the financial health of the HOA as a whole.

Here are a few things I’m looking for:- Payment History- As is Value not ARV- P&I Amount (for us it’s >= $400/month)- Back Taxes- Borrower Filling Bankruptcy- Local Market Conditions- Local Economic Indicators- and many moreAs far as collateral file review:- Chain of Assignments- Note and Deed of Trust match county records- Appropriate Allonges- Liens and Judgements - and many moreEven with all that, 50% of the time I will still end up taking the home back.

@Daniel Fisher, from a purely economic point-of-view, it doesn't make sense to go with the metal.

I have an associates degree in business and 36 credit hours away from a bachelors in business or economics but hesitant of finishing and pursuing full time real estate.