@Ben Leybovich  I can list some numbers here and I actually invest in a very economically depressed area so I don't own a building that doesn't meet the 2% rule in fact a few hit the 3% rule.

Camden and Trenton are very depressed areas.

Seeing all these distressed loans every day got me to thinking there's got to be a way to make some money off this.My husband and I bought a new home (new to us) a year ago and rented out our old house because of the depressed market.

According to Richard Duncan (the author of that book I mentioned), Japan is never going to be back up, 'cause the same Japanese organizations are outsourcing their Car manufacturing to China (one example) already and so are some of their other industry related operations...Your take on Deflation and Depression is something I support Totally.

This will lead to buying at a discount.This down turn that is turning away homeowners in droves and forcing prospective buyers to wait it only increases the need for rentals.The only problem is if this turns into an all out depression to rents decrease?

I'm a 'buy & hold' investor and want to acquire more properties while prices are depressed.

When my mom was passing w cancer, my good friend said, "Brian, you cant be depressed and practice gratitude at the same time!"

Thank you, i do not have debt, there is someone sadly in my town who lost around 100 pounds, because he has big debt in real estate investment and the real estate lost 40% of it is value, because less demand on the market , he is depressed nowadays. 

But, in a high interest rate environment, and depending on the assumptions you make for appreciation and rent inflation, leverage can actually depress your ROI. 

However, you do need to be aware if one of these tenants is unreasonable-- as this kind of unreasonableness is often the sign of some type of disorder.