Even though those markets have been slowly bleeding down their own value down to the lower value ones. 

@Ken Lim even if you could snap your fingers and bring the rent up to 1200/mo per unit over night, you'd still probably still be bleeding money every month...

If I were interested in a market like that (which I'm not) I would let it bleed out for a while and revisit in late winter once I have 12 months of comps covering the 2022 summer through holiday season to work with. 

Hello All,Hope all s well with market cooling down.

For all the blustering and "I'm keeping powder dry" people bragging about how they're ready to jump in and pounce on all these dollar deals, the reality of a true real estate crash is a lot of economic devastation that bleeds into all sectors of everything. 

My friends that are bleeding heart liberals think I'm a hard-assed conservative capitalist.

I have no illusions that I can live to 100, but I might make 90 if the healthcare industry doesn't bleed me dry.

Plywood's greatest value is that, in the event of water leakage, it can be usually dried out without significant damage and does not tend to swell up and fall apart in the same way that particle board and MDF do.

Most cabinets are destroyed by water being absorbed by the presswood and the glue disintegrating and/or the sawdust/chips swelling.

The Dr then says, "Don't raise your arm".Sell your property and take the temporary loss, move forward with any cash you can get out, and stop the bleeding.