Here's how I do my due diligence:1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where you think we are in the real estate cycles (financial and physical market cycles)b) Then only then pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

You have legal if not physical possession.

We don't have a physical office, and I'm not really interested in managing agents, so I don't recruit.

Then there is the influence of profitability that comes from they way an owner occupant will incur expenses from living in a property verses the way a renter will incur expenses living in a property (physical depreciation).Finally there is the expense of management.

I have a coworker who bought a house just north of Oakland, and they had to have the property physically raised onto stilts so that a foundation expert could replace the old brick foundation with one that is more seismically sound.

Yes, a tenant could physically damage something, but that doesn't sound like the case here.Most PM will not drive out to look at every problem.

Appraisals delivered in hard copy, physical trips to the property with potential investors, mailing PPMs, Operating Agreements and Subscription Agreements, placing ads for investors in the Wall Street Journal and local Business Journals, faxing due diligence documents, going into the bank for a cashier check or to wire funds, hour long phone conversations, face to face meetings, etc.Pdf appraisals, email attachments, Dropbox, website, online ads, all made my business more streamlined and efficient.

i absolutely agree with you on everything - especially the cyclical market, we may very well be at or close to another turning point, however i think its fair to say that 15, 20, 30 years from now propertie's in general will be likely worth more than they are today, would you agree?

I've called several times an my next step is to physically go in person.

I'm grateful for my business partner for contributing not only to my professional success but my physical existence as he's my dad.