I have read a couple of Brandon Turner books and the only experience I have with real estate is the purchase of my home 8 years ago, which was a short sale.

Purchase price: $235,000 Cash invested: $75,000 Sale price: $425,000 The Ardmore Chalet is a fully updated contemporary home that resembles a hidden mountain getaway tucked into the middle of the Ardmore neighborhood.

But you will need to get this from true private money sources, not really advertised online. 

Do you know the best way to find properties that are for sale by owners?

Have you had a few successful completed sales? 

As-is" does not have any clear specific meaning (in fact, if you look at Paragraph 16 of the standard NJ contract you will see every sale with a Realtor is listed as that).

After ten years compounding at 5% that amount would be worth $1,348,602, which would really be $1,256,344 after accounting for LTCG @ 15% (1,348,602-733,500 * .15).Final amount for condo conversion: $1,256,344Pros: After money is reinvested, passive incomeCons: Taxed twice, once on sale, once when investments are sold, no real control over money once investedScenario 2: 10 year holdI pasted my numbers at the bottom of this post so it's easier to see, but my thought process was as follows:1) Calculate value based on reasonable appreciation trends, plus cash flow.

You cannot take the $250k gain since you did not make that gain at the point of sale.

Sounds like they make money in some other ways like origination fees or taking equity from short sales but I doubt that happens often. 

I'd say for both markets some things you'd definitely want to have an idea of would be Median Sales Prices, Median Rent Prices, price-rent ratio, days on market and then also % of price increases for the last couple of years.