Only when you have a solid foundation in underwriting would I pull the trigger on a purchase because as you have seen - it will be a money pit for awhile and if you don’t have the exit strategy to pay everyone back - it won’t be your money pit long because they will foreclose. 

All it takes is 1 or 2 dominos to fall in a specific market that could trigger action but agreed the banks could be propping this up from happening.

I have a parcel in Michigan just waiting to pull the trigger on building

Did you ever pull the trigger on a rental property in Provincetown?

I’m really focused on getting all of my ducks in a row before I pull the trigger on my first deal…mostly looking for distressed properties that I can pay cash for to begin with.  

Quote from @Harsh Poshti: I bought a condo at auction.

For a TX real estate pro, Michael is an obvious choice of tax pro.Prior to pulling the trigger on a Cost Seg study, you should evaluate 2 things:1 - How much net additional deprecation tax deductions a Cost Seg study would provide: Best way to get this is by requesting a free feasibility analysis from a Cost Seg provider.

Curious what margins flippers are looking at to pull the trigger

Most investors try and take advantage of the Primary Home, Secondary home program without concern.When you buy too close in proximity and too soon in terms of sale date you trigger red flags. 

There's a lot to be gained by selecting your items and putting them in your shopping cart (online) but not yet checking out so that you're ready to pull the trigger once you've closed, especially if you're doing MTR or LTR.