Two lessons learned as they pertain to BRRRR investing which compromises nearly 100% of my buy and hold portfolio. #1 Always try to negotiate a vacant property, even if you have to compromise on price.

Plus, this only pertains to my market.

There have been a few comments already pertaining to your strategy, ie: Flip vs.

@Brook QuinnI've lived in Kihei for almost 11 years...feel free to get a hold of me if you want to talk about complexes that will provide the best ROI.A couple of answers to your questions pertaining to owning a vacation rental in Hawaii:1.

They paid their own lights and gas and the same scenario I posted above would pertain to them as well regarding their lights and gas.For the tenants who had to pay the water bill, which we as landlords paid for ourselves, on behalf of the tenants, (and of course this would be stipulated in the Lease Agreement that they would be responsible for the lights, gas, and water bills) we would then turn around and bill the tenant for the water bill by typing up an Invoice out of QuickBooks and sending the tenant the a bill for the Water and also sending them a copy of the water bill sent to us from the Water Company to prove we weren't trying to charge them for more usage than what they used.  

As it pertains to your friends and family, it’s not your job to convince them.

If you are leveraged beyond your means already, then liquidating may be a good idea, even if a collapse doesn't come.I have laid out a considerable list of facts, data, economic theory and mechanics, countless times spelling out in detail exactly how economics actually work especially as it pertains to the housing industry, which clearly is stating THERE IS NO COLLAPSE, NOT NOW, NOT SOON, NOT COMING, NOT AT ALL.

Where do you pull your data pertaining to the Germany market?

I just think it's important to note that correlation measures the strength of the relationship between variables, but does not neccasarily measure anything pertaining to cause/affect.With that said, shoot me a PM if you ever want to nerd with me sometime.

So while it does say this:“(b)Appraisal independence For purposes of subsection (a), acts or practices that violate appraisal independence shall include—(1) any appraisal of a property offered as securityfor repayment of the consumer credit transactionthat is conducted in connection with such transaction in which a person with an interest in the underlying transaction compensates, coerces, extorts, colludes, instructs, induces, bribes, or intimidates a person,appraisal management company, firm, or other entity conducting or involved in an appraisal, or attempts, to compensate, coerce, extort, collude, instruct, induce, bribe, or intimidate such a person, for the purpose of causing the appraised value assigned, under the appraisal, to the property to be based on any factor other than the independent judgment of the appraiser;(2)mischaracterizing, or suborning any mischaracterization of, the appraised value of the property securing the extension of the credit;(3)seeking to influence an appraiser or otherwise to encourage a targeted value in order to facilitate the making or pricing of the transaction; and(4)withholding or threatening to withhold timely payment for an appraisal report or for appraisal services rendered when the appraisal report or services are provided for in accordance with the contract between the parties.”It immediately follows up with this:“(c)ExceptionsThe requirements of subsection (b) shall not be construed as prohibiting a mortgage lender, mortgage broker, mortgage banker, real estate broker, appraisal management company, employee of an appraisal management company, consumer, or any other person with an interest in a real estate transaction from asking an appraiser to undertake 1 or more of the following:(1)Consider additional, appropriate property information, including the consideration of additional comparable properties to make or support an appraisal.(2)Provide further detail, substantiation, or explanation for the appraiser’s value conclusion.(3)Correct errors in the appraisal report.”Based on this discovery, I respectfully disagree with your interpretation of Dodd Frank as it pertains to my previous comment regarding appraisal reconsiderations.