Think mini pensions or rental properties that provide steady cash flow.However, if your net worth is under $4 to $5 million, you’re still in growth mode and should keep your day job.

First to answer @Gino Barbaro I have almost 1.3 million equity between all three of them. 

Walk away and choose some other property to chase.I made my first million dollars buying preforeclosures.

What if you show low income on paper is there still limits, it seems almost as if someone making minimum wage or even no income could buy a million dollar property otherwise as long as it showed a net positive to their DTI?

(There is also a fourth sub-tier of A+++ properties which includes your awesome lakefront homes and 7+ bedrooms at 700k - 1 Million. ) In the Poconos market, we have been seeing homes that are smaller or larger be the better performers. 

I later heard but never exactly why, that the place was an absolute money pit and the buyer, who was very experienced, regretted buying it big time.It is interesting, but I ALWAYS do at least a bit of research on the prior owners and have found few "hard luck" stories, at least as far as either higher or high priced single fams go, they're by far the same story where the owner makes the financial decision to walk away, mainly due to the insane HELOC's etc they were giving out, like 125% of home's current value back in like 2006, so now they'll owe literally like $750k on a home that IF in great shape would at best fetch $500k, PLUS they trashed or semi-trashed the place, so they'd be really lucky to get $400k as is and often they may be business owners or whatever and have a relationship with a local bank who will then know "the whole story" behind the big hit they take to their credit score and not treat it nearly as harshly as the average Joe, who's practically banned from even entering the bank for years!

He and Kristin Beach scammed dozens of people to the tune of millions from their companies “Land Flipping 101”, “Six Figure Land Flipper”, “One Away Ventures”, “Top Dog Land Deals”, he also owns “Griffin River House”, and more.

At the moment, my business partner and I are working on a 300 unit MF development with a $68 million total capitalization here in North Texas.

Unemplyment rate is a depression aera metric: we have a different issue now: our work force is declining by half a million to a million per year due to demographics.

. $1 million legit properties would all start appraising at $800k, and now if appraiser is forced to purchase it at 90% they pay $720k for a $1 million property.I think that's interesting that your appraisers don't know the value.