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US real estate puchased, professionally managed and assambled in REIT portfolios or other secirities backed by physical assets and collecting income produces returns well above prime rate.In a downturn, hold ground, grub, gas, guns, and gold.

These are friendly faces that I am happy to see and I'm not really trying to sell - however, word gets out about the cute houses I produce and people remember me when a neighbor's house crops up or their kid is looking for a place, etc.

I know that income-producing properites are valued by the NOI and Cap Rate, however, the LTV should be low enough to allow for a deal that goes south.  

However, each unit was producing about $1,000/mo each.

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You didn't mention if this rental lot had a house on it already or if it was just a lot.I think a vacation place is something you do after you have a few income producing rentals under your belt.I am trying to set myself up to be prepped for a vacation place when the market turns.  

I'm sure this is not the best way being the results I'm seeing is the contractors buying way more materials than are required for the job and buying tools and equipment on the account when not authorized ect...  

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