Its really easy to get emotional and want to "win".

When I PCS, I hope to turn my house into a rental...although my wife is emotionally invested and would rather sell it than let someone else live in it and possibly destroy it. 

Aspects such as Human emotions and issues of  undercapitalization will let a more logical, well-capitalized and analytic investor profit from the inefficiencies and hence can control the outcome.

Emotions should be void in a financial transaction for obvious reasons.Make an offer, have your agent present it, wait for their response and respond accordingly.

Many of the lots in these high end neighborhoods are selling at much lower prices than the owners paid at the peak of the market several years ago.Is anyone currently investing in this area, if so I would love a few pointers on how to dig a little deeper into this to see if the profitability is there and what is the risk factor in spec building vs rentals. 

I will be attending the upcoming PaperSource Seminar in Las Vegas, bring with me close family who have always been interested in investing their money but aren't emotionally ready.

I live/work overseas so getting a loan is much tougher, banks ask a lot more questions and dig deeper but the way to get a loan is keep asking.  

Your partner can either commit mortgage fraud, or go find some therapist to say that the two of them need time part to work on their marriage (this is like the "emotional support gerbils" that landlords deal with... a doc says it's legit, what qualifications does an underwriter/landlord have to question that?

Don't buy on emotion, thinking that if you don't buy right away someone else will get it.  

No matter what, make a plan, don't let emotions determine your path, follow your plan and the good advice of seasoned REI, and keep your eyes on the long term prize...you own a business, and it will free you to go where and do whatever you want as long as it is solidly built.Blessings!