@Jeff PavaloneJeff, PA is the only state that will not recognize a 1031 exchange. 

But I would like to suggest that the reason most RE investors do best locally is because they see and recognize the increased activity with their own eyes and read about local changes that impact neighborhoods or areas in the local newspaper...or before, which is why local officials often own prime property when roads are announced.

But I also recognize that waiting might be more advantageous at times.  

If so, the seller probably recognized it as worthless.  

In layman terms it translates respectively to: (1) the law recognizes liability either by common law or statute, (2) the facts show that the party suffered money damages because of the defendants conduct, and (3) assuming that previous two are true, there are assets which we can take from the defendant to satisfy the judgment.

You have to recognize the character/attitude (as Michael said) of your GC, just as I have to recognize the character within my subs.

There's nothing wrong with investing for appreciation (if you're in the stock market, chances are good that it's your strategy), you just need to recognize when to get out and go to cash.

A $1,000 minimum.The issue is that CGs try to break through what they really are, craftsmen maybe, trying to break through that ceiling to be recognized as a professionals comparable to someone like an attorney as these guys really lack recognition for their work and seek higher esteem.

I think you really have to be in higher end areas for people to recognize and appreciate the value.  

Like any rule of thumb you should recognize when it applies and when it doesn't$1,000,000 home = $20,000/month, these numbers make no sensethe math just doesn't make sense. there has to be another part of the rule.