It may be true for the ultra wealthy that RE was not their path to wealth, but for millionaires which is the new middle class RE is still a lion share of their paths to wealth.

At a cap rate of 7.75%, purchase price would fall close to $1.6mm.Seller would like to sell, but is not ultra motivated and won't accept lowball here. 

If you don't indicate upfront, you're setting yourself up for frustration down the road.As for the prices, they appear relatively reasonable for a GC, assuming he's not using ultra-low end fixtures.  

Given the ultra low interest rates of today... and generally a very small difference in rates between 15 and 30 year terms, generally speaking 30 years is a no brainer if it's available and fixed.  

That "New house" smell might go over well in some markets, but not here in ultra-eco Portland.

Implying that there's something wrong with RE investments being reserved for the ultra wealthy didn't bode well for the sharks.Conceptually, I think everyone should have access to all types of investments.

On my drive up to Hood River yesterday with one of my partners.. ( his wife is from Tokoyo ) he was regaling me on these ultra tiny homes.

I don't think realtors drive the prices up, I know many of them who are super ultra frustrated because of the ridiculous number of multiple offers (30, 40, even 90 in some cases). 

Cash flow after everything without a mortgage is about $1000, $800 if your ultra conservative. 

Almost to a fault.When I ran the numbers on this deal, I had to be ultra conservative.