This will continue as long as stocks keep rising. 

If property values are rising faster than rent rates, it will push down CoC.

He failed at it because of his strategy, which was to buy a house, move into it, wait for the equity to rise, sell for the increased price.

I have been in the financial industry for 16 years and my personal opinion was that interest rates would start rising by year end and could rise significantly by summer of 2017.

It's done all the time in a hot market when comps aren't closing fast enough to keep up with rising prices.

Should I be worried about potential bad smells, mosquitoes, the possibility of the lake ever rising again (not sure if that is really something to be worried about though)?  

@Andre Key Beverly is great there are many other areas in the south side of chicago on the rise currently as well.

I've been watching this market for awhile now for the San Diego market (hoping to buy land myself) and am amazed at how fast the percentage of preconstructed mod homes is on the rise in general.  

You said something that I think is interesting: "You may have to wait till our local scene chills out (which is happening)" does this mean that as an agent you are seeing Portland home prices level out/not rising as fast anymore?

If I can get that 2nd house legally rentable, and go higher end on all 3 property rehabs, I could probably get around $5000/month, with rent rates expected to rise in the future.We have the cash to buy all 3 properties.