I also own/co-own two condos in the Jersey City Heights neighborhood.Would love to connect with experienced folks in the Gold Coast (NJ) area, as I have a particular interest in Jersey City/Bayonne.  

Similar to being the gold miner or the seller of pucks and shovels. 

I'd say Airbnb can be a good investment, but it's vital to research Miami's regulations on short-term rentals first.

Obviously the condition of the market, and the costs associated with fixing it up are vital, but in terms of the buying process (i.e. pre-approval, loan, interest rates, etc) what should we be most aware and cautious of?   

Lots of factors.But having been in this real estate market for 15 years, I can't see how you are not sitting on a gold mine.

Roger, welcome aboard.The BP podcasts are a gold mine of informationAlthough i am not based in WA, connect with me anytime. 

It is vital to remember the location of your prospective property will usually dictate the types of tenants who will be attracted to your property, the rental rates and the value of the property.2.

This is gold thanks a lot

The gold coast is holding/gaining value with rents only going higher and because of that people are willing to commute from further away, thus driving up the rents in other areas.  

Or, it could just be that everyone thinks their land is made of gold and has it listed way too high and if you have a parcel that you can list for much less than everything else, there may be high demand for it. :)If you haven't already, I recommend you check out @Seth Williams's blog, retipster.com.