I'm in shopping center leasing so I see it in similar terms: landlord leases an empty box to a restaurant/retailer and the tenant does their tenant-specific improvements.I plan to look for properties that have the "bones" of what RAL operators are looking for (single-level, 4 or 5 bedrooms) and allow them to make the improvements they need.

Asset types vary from small retail centers to hotels.

@Joseph SchommerI think you’ll hedge better if you bought your houses wholesale rather than retail.

(e.g Retail)  Portfolio - really means it comes from the bank's/Lender/Private lender's own portfolio (pool) of money.

But then I see charts like this for retail metro-wide and I scratch my head..... and then I read that Vulcan Video, Magnolia Cafe on Lake Austin Blvd and Threadgills is closing shop permanently which sucks.

I am wondering if the retail market will hold it's value in the first time buyer market.   

It’s more like a retail business in the eyes of IRS.

By the sound of your other comments, it sounds like you're connections are FULL RETAIL connections. 

Not all agents are the same; most are looking to sell you a house at retail prices.

They were direct with the owner, pre-foreclosure situation and it was sold to another investor who is doing an extensive gut renovation to later flip to a retail buyer.