That would seem illegal...not marketing the properties to the largest pool of buyers.

Another reason that people invest with their IRA's is they have years of 401k plans to roll-over and it tends to be the largest asset that they own, or one of the most liquid. 

Oops - It's July 15th actually.Here is the post about ithttp://www.biggerpockets.com/forums/521/topics/134096-july-15-2014-nyc-meetup-in-manhattan-with-bp-author-and-legend-j-scott

Not surprised the author is a stock fund manager.  

Properties are located in a beautiful region of the Catskill Mountains, several within one mile of the Delaware River.Properties are located in three townships: Callicoon, Delaware and Fremont.Properties are concentrated in the southern tier of New York State in and around the Marcellus Shale, the largest shale plate in the US, often called the “Saudi Arabia of natural gas."

I believe ARV to be the most important number because it is the largest. 

This from one of the Largest PM's in Memphis..

I might mention that power must run that well and, unless buried, power lines must run over someone's property to reach the wellhead and pump.Unless you own the RM and obtain title to property as successful high bidder from foreclosure (risky in this case) you're probably better off getting capacity, powers and authority by opening probate to legally control title and possession.So, the opportunities are centered around control of title, possession AND reduction of secured debt. 

If you have rooms that really aren't bedrooms as per the definition of most housing authorities, I don't see how you are in violation when advertising the actual number of legal bedrooms and calling the other rooms bonus rooms. 

It is critical because it is the largest number.