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I believe that your friends are making great money on houses they're buying right now. However, if they've been a full-time real estate investor for a long time, then they now owns homes that hthey bought in 05 and 06 that are worth half of what they were when they initially purchased them. So, while they're making $60000+ per property, I would assume a lot of that money is going toward losses on props they bought a couple of years ago.
The BEST situation someone can be in at this exact moment is that they had never bought a property in the last 5 years and are just now jumping into it. Those people have the world of real estate profits at their fingertips.
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