The Pittsburgh market is full of many different neighborhoods, some have hit their peak from what I've seen in property values, and some seem to be steadily increasing as they become the "next hip spot" to live.

I'm not really up to speed on the shorter loans, but what would the benefit be of this?

@Odie Ayaga  I am not up to speed on the license requirements in AZ..

So not only are you literally talking about some of the most expensive markets in the country just in general, but the real estate economy is much more at peak prices now than not.

You're never going to hit the absolute market peak, but if you follow the numbers and sell when the market is headed towards the top (or has just peaked and is just starting down) you'll likely do Ok. 

Houston Real Estate Highlights in October Single-family home sales continued their post-Hurricane Harvey rebound as volume rose 7.5 percent year-over-year with 6,381 units sold;Single-family home sales remain 2.8 percent ahead of 2016’s year-to-date volume;Total property sales increased 6.6 percent with 7,614 units sold;Total dollar jumped 10.8 percent to $2.1 billion;The single-family home median price rose 3.9 percent to $226,491, which represents an October high;The single-family home average price increased 2.7 percent to $285,858, also the highest level for an October;Single-family homes months of inventory grew year-over-year to a 3.9-months supply, but is down from a 4.3-months pre-Harvey peak – the result of a surge in consumer demand for housing;Townhome/condominium sales rose 5.8 percent, with the average price down 1.1 percent to $195,393 and the median price down 3.1 percent to $153,000;Leases of single-family homes rose 13.6 percent with the average rent up 2.8 percent to $1,776;Volume of townhome/condominium leases jumped 34.8 percent with average rent up 2.9 percent to $1,533.HAR still encourages anyone who has housing available for temporary occupancy (up to 12 weeks) to please post it on our Harvey Temporary Housing page at www.har.com/temporaryhousing to provide housing to those in need.http://www.har.com/content/mls/?

If a plat has already been approved can that generally peak interest as to having something ready to go?

Eddie Speed talks about A notes and C notes.

I keep hearing people talk about "peaks" and "rapid growth" or "hot markets" in other places, but Baltimore/Maryland have seen steady (like 5%) growth since the crash.

Sara Peak I have not done any conversions, but I have taken, not one but 3x4plex's upgraded all units and increased rents between 85-100%, from $500 to $1000 per unit.