Just recently a client made an offer on a new million dollar listing within 24 hours of it coming to market and there was a cash offer that was accepted at a lower price point the same day.

My question is whether this will this cause issues with setting up the purchase price as the cost basis and depreciating the property accordingly?

When first starting out using a Buy and Hold strategy and with limited capital, do you think it's better to purchase a bunch of lower priced properties in lower quality / depressed areas or spend a little bit more but have less quantity or rentals (but presumably higher quality tenants) for properties in an area that is well known for being a "good" area?

Quality are commanding high prices. 

The median sale price has risen to $650,000, an 11.11% increase that reflects the undeniable allure of Palm Beach living.What's more, 48.8% of these sales were paid in cash—a clear sign of strong buyer confidence and a testament to the value of these homes.

Now new HOA management is issuing violations, saying No Commercial Vehicles allowed. 

I also considered Safely, but they're pricing becomes very expensive for MTRs

Median Sale Price: The median sale price rose by 10.4%, from $575,000 to $635,000.

Hi Nam and Simon, I used US Bank for my LLC financing for the auto loan (it was a secured business loan - the vehicle was the collateral for the loan) and the unsecured credit line.

But I'm also of afraid of missing out on a good opportunity to get a townhome in a expensive popular area at the price point and interest rate I find to be favorable.