The mortgage would be at a locked price , however rent will naturally rise . 10 to 12 years from now we want to be out of the New York City area.

Factoring in a basic 2% inflation rate for the US, 10 years later, this property could rent for $3400-$3650.Waterfront South of Veterans Parkway: This would certainly be the easier of the two scenarios, but your buying options are still pretty limited at your lot price point.

Also, ask the HOA for a breakdown of repair costs.This wouldn't be the first time that an "outside contractor" was hired to do a job at an extremely inflated price.

-Pricing Trends & Sales Activity...are prices rising? 

If your rate is about equal to inflation, that's essentially free borrowed money.

I’d say the town is still very much in the rise and prices could increase even more in the coming years.

Look into secondary markets that have a rise in population, stable employment, and diverse employers.

Raise that sell order as the market rises. 

The potential PML is a construction guru that won't do the work for you, but you have on speed dial to consult on anything related to home building/remodeling if the issue is beyond your own 7 yr home construction knowledge.You live in Colorado and the market is inflated.

Not that they try very hard.I think the fact that we've seen sellers do unbelievably stupid things for cash deals again and again has really helped along our ongoing distaste for what's called  lifestyle creep or lifestyle inflation.