At least you recognize this is an appreciation play and are going in eyes wide open.

its rare in this market to buy new construction SFR's for rental purposes... it happened a bunch in 03 to 06.as well as our renters in this market unlike many other markets of the mid west.. they rent apartments not SFR's  granted there are sfr rentals but not nearly to the extent in other markets.99% of the new construction will go to homeowners.. this could cause over supply of apartments though in the area.. it will depend on jobs. like it always does.

I visited some folks near Phoenix that moved from here, they bought a very nice double wide and the park was a bit of a country club, golf, tennis, indoor pool, pretty nice, except they had no grass.

A wide range of non experienced to very experienced people go to our meet up. 

Don't panic don't go blow money on attorneys these contracts call for EM to the extent of liquidated damages. don't let any one scare you here.. the bully seller is just blowing smoke. you may lose your EM but that would be the extent of it..

We assumed that we could deduct the expenses to the extent of the below market rent.

There's plenty of good opportunities here.The fundamentals are very strong and there's a wide range of opportunity types along the Wasatch front.  

There are companies that offer a wide range of foreclosure listings for some fees.

Bornstein is widely recommended on this board.  

There seems to be a wide discrepancy between the estimate and actual value of real property in many cases.