I looked at a couple of houses in Honolulu that were basically tear downs and if I remember correctly, they were in the $1 million range.

Expect a couple of points either way.To protect myself, I am in the first position on the property as the lender. 

A couple thousand cheaper than the next lowest bid, and more thorough in explaining options.

Owner had to do a lead cleanup a couple years ago b/c of CMHA, and it was professionally remediated.

I currently hold two in the same building that have been rented out to the same tenants for the last two years and are run by a management company (I live in Toronto)I’m thinking of picking up a couple more since the prices have dropped.

However, one big downside that I've noticed is when trying to sell only one or a couple of the properties associated with the note.

A couple brokers have told me they don't do conventional loans on flips and refer me to one of their commercial mortgage brokers but I don't want to do a commercial loan because of the higher down payment. 

To all my R.E experts, what type of trends do you feel will occur in the industry in the next couple of years?

I have had a couple agents call back and give me a few listings but other than that not a whole lot of info.

I didn't do much with it then, but I found my way back a couple months ago when I confirmed the 9-5 life wasn't for me.I've been listening to podcasts, reading forums and blog posts pretty much daily since.