@Jay Hinrichs I think I saw it happen, a few months ago, I got invited to bid on open trade for a 56 row houses in 4 phases.

Hello fellow BP'ers,My wife and I are in the education phase of real estate investing, with plans to purchase our first property 12 months from now.

Cash-out refi at the end of the Hypersupply phase before the occupancy rates hit average levels so you need to know when recession markers are coming for your neighbourhood - watch the rental occupancy averages - once your neighbourhood occupancy rates hit the long-term average you know you're heading for a recessive period.

This added to the complexity of the due diligence phase, but was completely necessary because prior to closing, it all could have fallen apart.

You can really get a bid from a contractor at any phase; however, the more information and detail you can provide, the more accurate your quote will be.

I'm stuck in the education phase simply because the market is too hot right now. 

Have about 60 already rented from our Phase 1 opening this past spring.E. 

Through this relationshiop you learn of this type of opportunity--example only Loc- Atlanta marketEntry: Acquistion $7-10million for 30Acres which includes 7 parcels in what is a Mixture of 5 Land Parcels and 2 existing Sfr. that are in stable condition builts in late 70's.Value Add Plan: Force Appreciation with Development mix of residential units (townhomes&sfr's) and corporate guaranteed leases on commercial pads (est 90,000 leasable SquareFeet of Built to Suit Development that'll lease ($25-30/SF/YR) Leasable commercial and command sub 7 cap.Exit(s) - The Residential will be vertically developed and sold in phases.  

Is this a sign of the next phase of the market cycle?

I think it's more of my desire to have some skin in the game rather than playing from the side lines and being in the "analyzing" phase, although very important.