It is a lot like sitting down to play poker in Vegas.

I haven't done a deal there in 15 years, I just send any leads I know about to an old investor/broker friend there to take a shot at if he likes it, gives him something to do besides occupy a seat at a poker table.

It's like sitting at a poker table. 

Poker players call it rat holing.Everyone of your choices is incredibly valid and incredibly wrong depending on the market.  10 years is probably way into another market. 

For me- boom areas are like going 'all in' in poker.

I had a tenant once say he's a professional poker player, plays poker on the internet and gets paid from an offshore account, but he said he doesn't include much of that income when he files his taxes, he wanted me to trust him he could make the rent...I now request the annual 1099 (equivalent to W-2), certified copy of IRS-1040, and letter from accountant (preferably CPA) which should state nature of business and income holdings, annual income expected for current year, amount of annual personal income applicant takes from business, and bank references, credit report, etc.

You don't have to learn how to play poker by going to the high stakes table immediately.

It doesn't sound like it was a home poker game that got busted, it sounds like there was a full on casino happening with dealers, etc. and he worked to conceal it.

It helps you thinking logically and following through with you have deduced to be the right decision.I just played poker and never never ever the pit games.I do get a huge rush when I complete a big project on a property.

Good poker players make great negotiators in my opinion.Steinhorn?