Investors must remember that different markets can be in different phases simultaneously. : With most things in the life, the best advice someone can give is to take a step back and look at the bigger picture. But when you’re evaluating real estate markets for investment, I’ve found that you have to get into the nitty-gritty details. By extrapolating assumptions from your local market to another, for example, you’re at risk of oversimplifying the playing field and overlooking potential deals that can either generate substantial cash flow or long-term appreciation.