To fully demonstrate this growth I decided to pull news articles of some of the major projects that are currently in process or are planned to start in the Old Pueblo.

You then decide year to year and get out of S8 when rents drop to a level matching market rates.

The Holcomb Fire took place last June made insurance companies worry and a few providers decided to not renew their policy at all.

Does anyone have any real life experience with this, how does buying notes work, and what exactly would I need to do to buy a note (if I decided to get into it).

So I decided not to DIY this project and hired a carpenter.

I wish you the best of luck and whatever path you decide do not be discouraged you have to keep going!

I've been a homeowner for 6+ years and had finally decided to get into REI. 

You will have to decide what the break even point is for your goals.Just remember when you use this strategy cash flow is normally lower than it would be with a standard Buy and Hold deal.  

I have decided to do a cash out refi, in which will give me a proper appraisal of the entire property, not a "drive-by" appraisal.

You guys get along and decide to go together on a new piece of property that is worth twice as much as the 4 plex he sold to you.