If not, you can always cycle out tenants, or adjust rents at renewals or turnovers.

Hot markets are for amateurs who think they can make money by buying where the competition is most intense and the prices are highest.  

Money lending comes with it's own headaches and liabilities, but wouldn't be as time intensive as some other alternatives.

Here's what I found so far:Loan to individual: 30 yr fixed at 5%, 20% downLoan to LLC: 15 yr adjustable (rate adjusted every 5 yrs) at 6.15%, 20% downIf you already have business experience and can provide numbers for the previous three years, it'd probably significantly easier to find a loan for your LLC and more favorable terms.

This is administered through the Zoning board of Adjustment and is a fairly simple process.

Real estate is cyclic by nature, house flipping follows the same cycles.I agree you are in line for a adjustment.

(FRED Economic Research site)Correlations were (for those unfamiliar perfect correlations are either +1 or -1, a 0 being no correlation):- Mortgage Rate to % Median Income = -.55 (Moderate)- House Price to Mortgage Rate = -.89 (Strong)- House Price to % Median Income = .84 (Strong)- Monthly Mortgage to % Median Income = .98 (almost perfect)This chart is not inflation adjusted, but does give a sense of when would have been a good time to buy versus not if you go by the variance from the trendline. 06-07 = worst on chart, '11 = pretty darn good. 

(You may have to adjust numbers)4.

In addition, you get depreciation, and lenders will typically adjust for that.  

Just make sure you adjust your numbers accordingly.