Hello - I am a licensed salesperson with Realty USA in Western New York and I am eager to invest in real estate.  

So i got out networked, marketed, built my power team and got a deal the old fashioned way, with a little elbow grease. 

This would imply that an owner would have to TRUST the governing entity to be wise with the money it collects in an HOA-like fashion.

Although @Bill Gulley is in the bread basket.. but usually us WEst coast folks are in the appreciation camp and most mid westerners are in the cash flow.. because cash flow here on the west coast is not that exciting generally and appreciation does not happen in the mid west generally.However the statement by @David Dachtera  about appreciation is gambling I don't by that one bit.. you don't have to be a rocket scientist to explore the US markets and see where markets may move. let me give you a couple1.

We would have been a bit quicker but the seller wasn't very available and was unwilling to forward due diligence in a timely fashion. 

It's compiled the old fashion way--extracting the data from sources like the Bureau of Labor Statistics and the Census Bureau

Ambition and good ole fashioned hard work has certainly paid off. 

@Minh Le is tearing things up in the SF Bay Area the old fashioned way: through excellent capital raising skills and honest relationship building. 

I help operate a 3 pack of live/work units near Western/Manchester.

I have to have the deck treated/cleaned in some fashion.