That tends to not be my understanding since I've been studying and networking with people who are into notes.

People tend to be less formal with roommate situations, but you should be more formal with your procedures/agreements. 

In real estate there are a couple things rookie investors notice pretty quickly:- Paying cash is more attractive to the seller and tends to get the deal closed sooner (which could translate into a discount or winning when there are multiple bids)- Refinancing (pulling the money out) becomes more painful if paying cash, many banks don't offer delayed financing (https://www.fanniemae.com/content/guide/selling/b2...) and those that do require more hoops to jump through, require 70% loan instead of 80% and don't allow you to extract repair costsI've actually been bitten by this refinancing issue with my first purchase in Chicago.This really hurts rookie investor's ability to start acquiring properties because we don't yet have good connections with hard money lenders/portfolio lenders, enough extra cash of our own to buy multiple properties outright, or enough properties purchased to stagger refinancing such that this doesn't affect us.

One caveat is that his book focuses on the California market which tends to have pronounced booms and busts. 

That's a toss up.The ones in Los Angeles (downtown, Glendale, Hollywood etc) some old some newer tend to be booked for months on end and the weekly rentals aren't exactly chump change.  

Then turn the lots into community gardens were the neighbors could grow veggies and fruits and do it all on the honor system..We see that here in Oregon there will be a little stand in front with freshly harvested fruits or veggies with a donation can ( Coffee can) and you just pull over and grab some tomato's or such and then leave your money in the donation can.. and every few days the volunteers that are tending the garden come by and empty the can.. and use that to buy things to better the garden...

I like the idea of shared employee, so I hire someone as weekend staff, they hve regular jobs but needs the extra boost for that bag she likes at the department store, this helps out an individual and is cheap, extra income is always good, they also tend to help and go out of their way for you.

I tend to be a great problem-solver, so you can always bounce questions off of me.  

Many of them with long term leases and/or very long term clients i.e. doctors, dentists, attorneys, etc. who don't tend to move around much. 

Toll Brothers plans tend to be traditional and they are not super innovative.