The lady's son knew the aunt of a state legislator. 

Actually I heard a story about a lady that's from Detroit who did that.

Oh, and some lady in Tacoma WA lost a 2 million dollar judgement against her because her dogs bit a neighbor.

They're true in literal terms but they're wildly false in the way he presents it to his audience and how his audience perceives what he's saying.

and raised rents ... then resold.. its done.. move on ..commercial real estate is caveat emptor now If this was a little old lady owner occ then you have some issues. but your a commercial land owner.. no one pressures you .. you own a half a million dollar asset... hard to claim you were young and Naïve ...

I gave up my W2 day job about a year ago to pursue entrepreneurial dreams and it's definitely a wild ride of ups and downs but full of experiences I wouldn't have gained elsewhere.  

@Dakota Wilde Thanks for the tip.

I'm sorry @Ryan Twomey, I wanted to ignore this but.... it just seems so egregious when in context of your significant self-promotion along with such a wildly bizarre and totally incorrect: "....emerging markets such as Minneapolis, MN...". 

totally regionalized... and in markets were you have a huge % of SFR's that are rentals  ( mid west) the values don't swing that wildly... what guys were paying for wholesale houses in the mid west at the bottom of the crash and now are really not that much different.. the values are supported by cash flow.. the only way these assets ( which are so heavy to renters in those areas crash) is if rents can't be collected and rents go down.were the market collapse is1. over building of new construction   think FLA  GA VEgas PHX  Central CA.. those were the melt down areas.2.

We stopped and talked to the old lady who lived there.