@Bob Prisco thanks , yup you are right Long Island is all fired up almost adding 100,000 to property prices in 3 years, bob how to find market with net caps 12-14 %caps any suggestions I’m looking in Detroit

Good checks and balances and remember this saying: "hire slow and fire quickly". 

Date of fire?

The market is on fire around here and hard to find a deal where the numbers make sense however, you have a leg up with sellers if you are paying cash.

my concern would be a fire.

In markets that have no Hedge funds or other large well capitalized investors maybe.. so that's one thought.. there will be a price point were big money just jumps in and takes the cream right off the top and will pay more money than the average investor just based simply on their cost of capital and their scale.We are also starting to see the foreclosure rescue companies fire up again.. although highly regulated and illegal in many states the way they do business.. they will cream a lot of inventory before it gets out to the investors as well. 

Make sure the 3rd has two froms of fire egress. 

They had to send my policy to another department for underwriting and my policy went from $1150 or so to $1250.I am no expert in insurance but I spelled out certain worst-case-scenarios (fire, tree falling down, renter damage) and they ensured the policy covered all of those scenarios.

When they found out what they had almost missed they looked at their realtor and said "Your fired" - jokingly of course, well sort of. 

Weak desire brings weak results, just as a small fire makes a small amount of heat."