The lender may not catch you, but if they do, your logic about letting someone live there to do the work won't fly.

Exactly NYC is a tenant city ...And his logic behind it seem right ....now when I get into the 5 and more units then that's another ball game  

The retailers sell the gold product to consumers.Using your logic, there should be no penalty for a consumer to walk into a retailer and steal a gold watch, as that gold has already been paid for many, many, many times over, and therefore, nobody is really losing money.Do you still think your original post makes sense given that analogy?

It’s logical and contains valuable information.

Let me see if I understand the logic here.

People are not logical.

I couldn't follow the logic all the way through but you definitely provided a lot more clarity.

Now,  that said, my BS Meter went off with sirens blasting, it's pretty accurate but while these are logical assumptions we might address exactly what's going on putting kids in real estate operations.

ive already been reading bookson real estate and have a good idea on how to get started but I just wanted to see where everyones head is at and see whats the best move that I need to make from a logical perspective.

In terms of Charleston appreciating 26% in the past 2 years, you're extrapolating long-term results based on short-term trends -- a logical fallacy.