They see the potential profits, stay focused on that, invest time and resources, and drop out when it's a lot more difficult than they anticipated.

I bought the property with a year to year tenant who rented the 4500 sqft but was way under market value so I anticipated I would have a large vacancy when it came to renew their lease.

This is tough to do - not impossible but you have to have a crazy good tactical mind and anticipate human nature in its entirety here.

Does the potential Property Value increase over the coming years make this deal a good investment on its own and is it worth buying this property with the anticipation that the month to month rental rates will eventually catch up with the monthly expenses?

However, having anticipated this scenario and doing research studying contracts, I would need to have all of my contracts say something along the lines of “Even though I’m a licensed agent, I’m acting on my own behalf as a principle in the transaction and am not representing the buyer in any way”.

Still have too much to learn and looking forward to interacting with all the members here!

Institutions with hundreds of millions of dollars research budget don't know when to move into cash, so I always chuckle when investors tell me they have "moved" their positions to cash in anticipation of a correction/crash. 

It took us two weeks longer than originally anticipated because of a lender hiccup at the end with docs, but we got it closed and we are onto our second deal as we speak. 

It’s always good to be conservative because I’ve never sold a house where I didn’t have to come down on my price at least a little.Getting into the renovation, it was a lot more extensive than I had anticipated.

Having a paper trail of all difficult interactions makes you SO much more confident in standing your ground.But -- on another question, I don't think you can insist that each applicant meets 3x rent for income, if they are applying together and will both be on the lease.