what you described has been described to me ever since the 1980s about apartment investing in Dallas and Houston there was some pretty big SF bay area players that went to those markets in the 80's and early 90's that ended up losing their buildings to foreclosure for those exact reasons...

I am hoping to get good commentary before engaging an attorney.  

I am currently educating myself on REI investing and gathering information on the key players in the team I need to build in Indianapolis.

I get trend opinions from both sides of the fence in the network of players I associate with, but most tend to agree that there is an upside to the Phoenix market still.Shine on,Jack

You have to decide what you want, what level of engagement you are willing to undertake and what your goals are. 

Don't engage. 

Engage here on the forums daily, for at least 15 minutes every day! 

I live in LA, couldn't even consider a deal - too skinny to engage in any type of financial engineering.

As I'm in the Northern Virginia/DC area and prices are much more than the ~$40k that some areas get, its a little daunting and I'm pretty nervous on getting started.I'm looking forward to engaging on the site with all of you!  

And eventually they go broke as they should so only the better players are left.