My strategy is usually if I don't want to lose one month rent waiting for tenant which equates $100 reduction in rent, I would rather reduce that and get it rented and move on.. 

It will be a weight lifted off your shoulders once you find one that answers the phone when you call and makes stuff happen.

I can't relate to ever purchasing a property in a location where I am concerned with extended vacancy or a large reduction in rents....that's not a market problem, that's a strategy problem.

Looking for some thoughts from those more experienced how to weight out this side of the deal.

We were ok with the reduction in cash flow on the short term to put the equity to work elsewhere.

After reviewing a pdf on Reduction in Housing Services on the HCIDLA website... its RAC 410.. in case anyone wants to look it up..

Houses seem to be sitting a little longer than they were a couple months ago and I am seeing quite a few price reductions on houses (that were originally way overpriced).

I am a big believer in being patient on the buy - aggressive on the paydowns as my tenants pay me monthly cash flow in the present and monthly principal reductions for the future.

Unfortunately my lack of experience in the market I'm in makes it hard for me to effectively weight the different risks and is throwing a wrench in my plan.

In my local market, similar 3/2 houses 2 miles apart can be the difference between a quick sale at $180k and a $110k sale that takes a few months and several price reductions to close.