Or finding the perfect deal.

The grass always looks greener but no market is perfect.

Thanks David, yes it's a great place.... perfect middle ground between the ultra slowness of Kauai and the downtown craziness of Oahu :).

Now, I understand that nothing is perfect in the real estate business, but I am confident in this project, especially given the current status of the economy, so, where are these developers?

Your investment sounds fantastic and hope no matter where you land that you find the perfect team to support you.Best wishes!

Any free time we have we prefer to go to the ocean but, for the next rental, we want to get away from the coast (hurricanes, flooding) and find another water location near or on a lake that's not on the coast.Has anyone had any success with non-coastal, lakefront properties in the Southeast?

But that doesn't mean it will be easy.No screening service is perfect.

Purchase price: $77,500 BRRRR I just closed on my cash out refinance for this property and it was a perfect BRRRR with NO REHAB...and, it was sitting on the MLS for 78 days.22061 Shakespeare Eastpointe MIFelt this was a good experience to share.Paid $77,500kRehab: $0 (already had a paying tenant and house was "good enough")Appraisal Value: $102k (75% cashed out = $76,500)"Wait, joe you left $1k plus closing costs in the deal""Na, it cash flowed $700+ a month after expenses for 6 months, I got all my money back"1st Best Part...no rehab2nd Best part...this thing sat on the MLS for 78 days***Note:I didn't go into this deal "NEEDING it to be a perfect BRRRR".

If it is a good home (but not luxury) or low end, you can probably get away with "gently used" appliances but may not get warranties with them. 

Also, they're still people waiting for another 2008 which is a whole other discussion and forum but waiting to buy at the perfect time is such is misconception.