So to sum up, I've got goldmines of information sitting in a box waiting for me to dig it up. 

The less well paid leave, but there are always more than enough of the ones who can afford to stay, and they stay (those with the gold get to choose.).

The individuals who realized that these laws can be exploited have found a gold mine.

Also, unlike investing in stocks/market, I want that sense of pride in pointing at property and say, "Yes, that is mine."

What's the likely hood that anyone could even extract gold?

That's why the Flippers have to organize a Team and just like with Gold MIning, the more partners you have the smaller your percentage of profit will be.

a friend of mine and i are meeting in a few hours to start planning for our first property purchase. we both live in manhattan and are looking to purchase a 4-6 unit residential building in the nyc metro area (most likely an outer borough or nj) to begin buying and holding properties. we are looking for properties that will require work / reparis upfront. what are some important first steps that you would discuss with a partner upon starting up (i.e. financing, partnership structures, deal sourcing, property management, business incorporation, etc etc etc.). my background is in finance, and his is in architecture, and we're friends from college.

A friend of mine recommended this site to me, and I just completed the online course (Path to Purchase).  

I certainly don't want to be paying those holding costs.I guess the exit strategy of selling the property is only as good as the temperature of the market.A friend of mine just sold his grandparents house in the same town.

Hi Account Closed,It's your lender's job to explain, not mine,  but I'll help. :)then he asked me to also provide a copy of the directions on how to take money out of my 401k if I needed to take money out.