The most common way this happens is some type of deliberate action or gross negligence.Sorry if this is all too brief (or too long), but it's hard to put this whole discussion in a reply box.

This is a marathon and with taking a deliberate, slow long term approach you should eventually be able to remove many of these issues.

Its a far more varied and therefore lucrative market than further south.RE: Property management - I deliberately built a margin into my portfolio/cashflow and hire my own property managers.

Are you saying that hard money lenders are starting to deliberately breach lending agreements so as to deliberately push borrowers into foreclosure? 

I don't know if carry forward depreciation shields this, but I figure in this forum, there is a higher likelihood of people qualifying than in the general public.The thing is, we don't know the true cost yet, because a) not all the regulations are written yet, b) they deliberately set it up so that taxes were to be collected for 10 years but benefits not paid for first 4 years and CBO can only score 10 years into the future, and c) there no way to predict what companies will drop health care plans and force us to buy government insurance.Whether you think we need government controlled health care of not, I go back to my principle point: if its constitutional for the government to force us to buy insurance because we are US citizens, then they can also require us to buy broccoli, hybrid cars, more than 25% foreign goods, and work specified hours.

been deliberating this myself

It's a deliberate trade-off, but for me, it was the right one.Even though I won't cash flow on this property until I move out, I am still able to significantly reduce my mortgage and save towards my next down payment. 

Actual costs and markups are deliberately hidden from owners.

Earlier this year, I stumbled upon the BiggerPockets podcasts, and the idea of taking deliberate, steady steps toward financial freedom resonated with me.

I personally have enough, so now I travel slow and deliberate.