I do recognize he needs money to keep himself afloat and looked like he hardly had any clients.

Using what I've learned and applied here on BP allowed me to recognize immediately that the deal made sense.

Are you worried you won't recognize when to slow down?

@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.