As you know, RO is a very hot market right now.

We're in a hot rental area and it's really hard to find any rentals.  

Where I live is super hot also and there is very little chances of getting cash flow which is why I decided to invest out of state also as of about a year and a half ago.  

We recently sold the house to cash in on the hot housing market in our area, with the plan to invest the income in to a new house to renovate as well as a small multi-family.

Every household, roughly 13,000 get 1 delivered and then every business in the city (bars,restaurants, doctors offices,gas stations) get a stack of them delivered to hand out for free at the door.

What makes a market a hot market and how do you spot that before it happens.

People with a household names are advising to proceed with maximum caution in 2015...

I'd suggest doing it in this order as it's a bummer to pay for an inspector ~$300 just to find out the project isn't viable because of other issues in the financial or legal areas.The value of .35 comes from the ratio (in this case) of rented households / owner occupied households.

If they keep monthly dues arbitrarily low and not building reserves it usually signals that the HOA is going to special assess every needed repair to common area i.e. siding, roofs, paint etc.Also determine whether they pay water as that can get extremely expensive if hot water is included as many HOA's in large buildings. 

Note to America's builders: less-expensive homes are starting to move. Purchases of new homes climbed 7.8 percent from the previous month to a seasonally adjusted 539,000 annualized pace in February, a seven-year high...