but I don't know that I'd be hard nosed and go to court on it if push came to shove.

But also small enough to give you the personal attention that is needed to thread the needle of a good 1031 exchange.BP is a good place to start. 

And good luck to get cash flow at that level of interest rates when real estate is already very unaffordable for the locals.Given this interest rate differential, you can create way more wealth much quicker with an average deal in Spain than with the best needle-in-the haystack deal you could find in the US.

Im not convinced that lowering the underground labor force will move the needle to a large degree.America has the labor, unfortunately not always "the will to do it"This macroeconomic environment reminds me of the early '80's...ironically "the great moderation" ensued.I could be very wrong though, it wouldn't be the 1st time!

Let your nose be your guide.  ;-)

If no, see below.

A $5K price drop probably didn’t move the needle enough.

The average age of the number 1 single family home owner is greater than 2010 and less than 15 years old and they are now building homes new construction and owning them. the exact opposite of your strategy. older homes are the cheaper ones and unless you have experience I'd build in columbus close to downtown. same reason Toledo and Cleveland don't move the needle and there aren't 100 institutions in those markets. columbus is barely on the radar. 

DOMNortheast$2,215▼ 1.9 %58 daysMidwest$1,376▲ 0.5 %50 daysSouth$1,841▲ 0.6 %52 daysWest$2,250▲ 0.8 %46 daysWhat’s moving the needle?

Always trying to get a clearer sense of what actually moves the needle in practice, not just on paper.Thanks again, this kind of input is exactly what I was hoping for when I started the conversation.