As far as parsing out the outliers, that's not particularly difficult, given a sufficient sample size- meaning, if you look at enough similar properties, there's a handful that will stick out like sore thumbs that can be discarded.Charles, I wish you had messaged a little earlier this morning. 

Also, as a benefit of my handyman business I will always be driving so I can keep my investor eye out as well for places.The question is, how would you go about driving every street in a small town efficiently?

Also, find out the health and eye test requirements and make sure that you can qualify.Owning real estate IS a business, even if you have someone else manage it for you.There is a big jump between "starting a business" and "having a big corporation."

We will keep a close eye of the market and hopefully the market doesn't crash in the very near future, which could lock up part of our money for some time. 

The builder appears to be fairly large and reputable to my untrained eye, so I'm suprised that they would have such one sided contract that I can't imagine anyone signing.

I agree that we go into them with eyes wide open and bring in whatever help we need in order to mitigate the risk. 

I know what LP (limited partner) is...but KP might be some new lingo.The one and only benefit in my eyes for the SBA loan is that it will give me a fixed rate over 20 years....all the other banks I've communicated with will not do a fixed rate unless it's through the SBA so it might be a necessary beast I have to deal with.

Looking at a lot of deals per day just to sharpen my eyes and recognize a good deal when I see one.

It's fine to buy a vacation home/future retirement spot and put it to work in the meantime, but be clear-eyed about what you're doing.  

Opens my eyes to the truth in this situation.