So even if rising interest rates and fear of a market drop cause cap rates to rise, the economy and wage growth are likely to push rents higher...two competing forces that when netted out could result in no drop in value.So to wait or not to wait? 

The experience taught me the value of building a team and reserving cash for repairs, and the whole experience eased my fears.

It's a bit scary but I am getting over the fear.

That makes it a lot easier on me.  5% auction fee surcharge.My biggest fear now is outstanding maintenance. 

My fear is that after 1 year and a day, the furnace and/or water heater go out....and I'm left with a huge bill to replace those.

My fear is that after 1 year and a day, the furnace and/or water heater go out....and I'm left with a huge bill to replace those.

AP is a form of insurance - litigation insurance.So, if you have enough to protect and reason to fear litigation (and it sounds like you have), then you might want to look into asset protection strategies (which includes establishing of LLC).

I am doing it to get over my fear of making cold calls, which I need to get use to doing more of.

If your properties have fixed rates, you're in an area with steady rental demand, and you're cash flowing, I don't find there is much to fear about a downturn if you're doing buy and hold.

Lessons Learned: I experienced a good amount of anxiety over the year, fears of the note being called due.